Why is a one-time password (OTP) required for nearly all banking activities in India?

Asked Jun 5, 2015· 1 answer ·Asia, Asia-Pacific (APAC), India, Indian Subcontinent, South Asia
Faisal KhanAnswered Jun 5, 2015
For security. People are just too easily fooled or otherwise cannot take care of their banking log-in credentials. Computers are easily hacked into. Phishing emails are able to successfully have you give up your credentials, etc.

The only known, cost effective method is to enable a OTP for transactions on the mobile phone (or another device).
One-Time Passwords (OTP)AuthenticationMulti-Factor Authentication (MFA)Cybersecurity AsiaAsia-Pacific (APAC)IndiaIndian SubcontinentSouth Asia
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