Some initiatives taken recently are as under: •  To avoid inconvenience, the requirement of Additional Factor of Authentication for small value card present transactions was relaxed for customers making small value payments on contactless cards up to a maximum value of ₹ 2,000/- per transaction subject to certain conditions.
Given also that the banking sector of Mauritius accounts for over 70% of total financial assets of the country, we cannot underestimate the relevance of applying sound and timely rules and principles towards maintaining the safety and stability of the banking system in the general economic context of the country.