I think it's supposed to give 1% cashback but somehow maybe because of wrong MCC for wallet load giving 2% using icici apay card. It's now fixed. So i don't think it's devaluation.
No, it was not because of wrong MCC. They clearly mentioned that on ICICI website that we will get 2% for amazon wallet load but they have now removed it. Last month I was expecting 2% too, so effective rate was 0.36% only(amazon charges 2.36% on wallet loads via cc) but got 1% only.