Now you will not get this cheap monthly subscription of Amazon Prime, 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 only for three months and one year. Let us tell you, the initial price of Amazon Prime subscription was Rs 129 per month, but now this initial pack has been discontinued after the new order of the Reserve Bank of India (RBI). It is noteworthy that in its new guidelines of RBI, banks and financial institutions have been ordered to implement Additional Factor of Authentication (AFA) for the process of recurring online transactions. The deadline to implement this new order is 30 September.

Amazon expressed its support page Has also been updated, in which monthly subscription of Amazon Prime is not present. Additionally, starting April 27, Amazon has also temporarily closed new member sign-ups for the Amazon Prime free trial. At present, if a user wants to buy or renew Amazon Prime membership, he will only have the option of taking a three-month or annual subscription. Let us tell you, the price of three-month subscription of Amazon Prime is Rs 329, whereas its annual subscription is available for Rs 999.

It is noteworthy that this new framework of RBI Announcement It was done in August 2019 itself, but later this deadline for banks and financial institutions was extended till September 30 this year. While 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, in the year 2019, RBI had released the framework for deploying AFA for recurring transactions up to Rs 2,000. However, by December last year, this rule was increased to a limit of Rs 5,000 per transaction. Transactions above this cut-off will require a one-time password (OTP).