Now this cheap monthly subscription from Amazon Prime will not be available, this is the reason…

Amazon will no longer offer monthly prime membership in India. After the new decision, now the e-commerce company is going to give prime membership of only three months and one year. Let me tell you, the initial price of Amazon Prime subscription was Rs 129 per month, but now this initial pack has been discontinued after a new order from Reserve Bank of India (RBI). Significantly, in its new guideline of RBI, banks and financial institutions have been ordered to implement Additional Factor of Authentication (AFA) for the process of online online transactions. The deadline for implementing this new order is 30 September.

Amazon has also updated its support page, which does not have a monthly subscription of Amazon Prime. Additionally, from April 27, Amazon has temporarily discontinued the New Member sign-up for the Amazon Prime Free Trial. At the moment, if a user wants to buy or renew an Amazon Prime Membership, then he will have the option to subscribe only for three months or annually. Let me tell you, the price of a three-month subscription of Amazon Prime is Rs 329, while you get its annual subscription for Rs 999.

Significantly, this new RBI framework was announced only in August 2019, but later the deadline for banks and financial institutions was extended till 30 September this year. Extending the deadline, it was said that this decision has been taken keeping in mind that there should be no inconvenience to the customers.

Initially RBI had released the framework for deploying AFA for recurring transactions of up to Rs. 2 thousand in the year 2019. However, till December last year, this rule was extended to the limit of Rs 5,000 per transaction. Transactions above this cut-off will require a one-time password (OTP).

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