RBI makes Additional Password a must for online shoppers

Yesterday, RBI issued notification in respect of online security measure introduced last year, which made every online shopper to have second password mandatory before c successful transaction could be completed. But it was restricted to CNP transactions only .

But wef 01 January, 2011 RBI has decided to extend this requirement of additional authentication/validation to all CNP transactions including IVR transactions. These Directions are issued by the Reserve Bank of India, in exercise of the powers conferred by Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007).

source: http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=6055&Mode=0