Reserve Bank of India (RBI) has released a discussion paper proposing new safety measures for digital transactions.
The move comes as online fraud cases continue to rise across the country.
The RBI says scammers are using advanced tricks like fake call centres, deepfake scams, and mule bank accounts to cheat people.
Senior citizens and other vulnerable groups are especially at risk.
Why RBI Wants Stricter Rules
According to the RBI, a large share of fraud involves authorised push payments (APP) — where users themselves transfer money but are tricked into doing so.
Interestingly:
Transactions above ₹10,000 make up 98.5% of total fraud value
But they account for only about 45% of fraud cases
This shows that high-value transactions carry the biggest risk, which is why RBI is focusing on them.
4 Key Safety Measures Proposed
The RBI has suggested four major options to make digital payments safer:
Delay in high-value transfers
Payments above ₹10,000 may be delayed before processing.
Extra verification for vulnerable users
A trusted person may be required to approve large transactions.
Stricter checks on receiving accounts
Only verified accounts will be allowed to receive large amounts.
Customer-controlled safety features
Users may get more control to set their own transaction limits and rules.
1-Hour Delay Rule Explained
One of the most important proposals is a 1-hour delay for transfers above ₹10,000.
Here’s how it may work:
The bank will hold the payment for one hour
During this time, you can cancel the transaction if needed
If the bank finds anything suspicious, it may ask you to confirm again
However, some transactions will not be affected, including:
Merchant payments
Auto-debits (e-mandates)
NACH transactions
Cheque payments
You may also be able to whitelist trusted contacts to skip the delay.
Why This Rule Matters
Unlike merchant payments, where chargeback options exist, bank-to-bank transfers don’t have strong protection systems.
The RBI believes that adding a short delay could help prevent fraud before money is lost.
Public Feedback Open Till May 8
The RBI is currently seeking feedback from the public and stakeholders.
People can share their views through the Connect 2 Regulate portal until May 8.
After reviewing the responses, the central bank may issue final guidelines.
What This Means for You
If these rules are implemented, digital payments in India could become safer but slightly slower.
For users, it means more control and protection — especially when sending large amounts online.
