April 1, New Delhi: With the start of the new financial year today, a set of other key reforms has come into effect. Starting April 1, all digital payment transactions in India are required to meet the norms of two-factor authentication (2FA), as directed by the Reserve Bank of India.
Under the new rule, entering a UPI PIN alone will no longer be sufficient to complete a payment. Users will now need to undergo two-factor authentication, meaning a second layer of verification will be required.
This additional step could include a One-Time Password (OTP), fingerprint authentication, or facial recognition. A transaction will only be processed once both verification steps are successfully completed, ensuring that even if a PIN is compromised, unauthorized payments cannot go through.
The revised annual pass fee for the FASTag for the financial year 2026-27 has also come into effect from today.
The National Highways Authority of India has revised the price of the FASTag Annual Pass from ₹3,000 to ₹3,075, effective from April 1 for FY27.
The Annual Pass is a prepaid option aimed at regular commuters, allowing users to make a one-time payment for uninterrupted toll access. The pass remains valid for one year from activation or for up to 200 trips, whichever comes first.
The revised rules for applying for or updating a Permanent Account Number (PAN) card have also come into effect from today.