Amazon India cancels one-month Prime subscription as per RBI mandate
New Delhi : Amazon India will no longer be offering one month Prime membership option in the nation. Now, the company will offer only three-month or annual Prime memberships.
One month Amazon Prime subscription used to cost Rs. 129 per month, but the starting pack has been removed to adhere with new Reserve Bank of India mandate.
RBI's new guideline asks banks and financial institutions to implement an additional factor of authentication (AFA) for processing recurring online transactions. The deadline for implementation of this new mandate has been set for September 30.
The changes have been updated on the Amazon membership page; additionally the company has also discontinued free trial for new members since April 27.
All those who wish to buy or renew their Prime membership now will have to either purchase three month or annual subscription. Three months subscription for Amazon Prime is priced at Rs. 329 and the yearly membership is priced at Rs. 999 per year.
The new RBI framework was originally announced in August 2019 and an extended deadline for banks and financial institutions has been set for September 30 this year. This deadline was extended to “prevent any inconvenience to the customers.”