US EditionIndia Mulls Payment Lags, Checks for Senior Citizens as Digital Fraud Rises, Rbi Paper Shows
The central bank said the delay would cover transfers above 10,000 rupees and could be paired with extra checks for older and disabled customers.
- On Thursday, the Reserve Bank of India proposed a one-hour mandatory hold on account-to-account transfers above ₹10,000 through fast payment networks, including the Unified Payments Interface, to give customers time to cancel fraudulent transactions.
- Reported digital payment fraud cases surged from 2.6 lakh in 2021 to 2.8 million in 2025, with losses jumping nearly 40 times to ₹230 billion. The RBI attributes this rise to mule bank accounts, fake call centres, and deepfake impersonation scams.
- For customers aged 70 and above or those with disabilities, the RBI proposed mandatory authentication by a 'trusted person' for transfers above ₹50,000. The bank states these groups are 'particularly vulnerable' to social engineering and suffer disproportionately higher financial losses.
- Other proposed controls include a one-click 'kill switch' to instantly freeze digital payments and annual aggregate credit caps of ₹25 lakh for certain accounts. Merchant payments and cheques would remain exempt from delays to avoid disrupting routine business.
- Public feedback on the discussion paper remains open until May 8, 2026. The Reserve Bank will review responses before deciding whether to draft formal guidelines to secure the digital payment ecosystem.
16 Articles
16 Articles
RBI May Soon Make You Wait An Hour For UPI Payments Above Rs 10,000
Mumbai, April 9 (IANS) The Reserve Bank of India on Thursday released a discussion paper that sets out four options for introducing extra layers of safeguards in digital transactions, which include a lagged credit for authorised push payments above R
RBI proposes one-hour delay on high-value digital transfers to curb fraud
The Reserve Bank of India is proposing new rules to fight digital payment fraud. These include delays for certain bank transfers and extra checks for senior citizens. Customers will get a 'kill switch' to freeze all digital payments instantly. These measures aim to protect people as digital payments and fraud cases surge.
India's central bank mulls delay for some digital payments to curb fraud
April 9 : India's central bank on Wednesday suggested introducing a delay for certain digital payments above a threshold as part of measures to curb rising fraud, and sought stakeholder feedback on the proposals in a discussion paper.The Reserve Bank of India outlined four possible safeguards, including a lag
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