Reserve Bank of India (RBI) is planning to make digital payments safer as fraud cases continue to rise with the growing use of UPI.
The central bank has shared a discussion paper with several new ideas.
People can give feedback on these proposals until May 8, after which RBI may release final rules.
The goal is simple: keep payments fast, but make them much more secure.
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Why This Move Is Important
Digital payments in India have grown rapidly.
But along with that, fraud cases have also increased.
Scammers are now using:
Fake customer care calls
Phishing links
Mule bank accounts
AI-based impersonation scams
Since digital payments happen instantly, once money is sent, it is often very hard to recover.
This is why RBI wants to add extra protection.
5 Big Changes RBI Is Proposing
One-Hour Delay for Big Transfers
RBI may introduce a 1-hour delay for transactions above ₹10,000.
This gives users time to:
Review the payment
Cancel it if something looks wrong
This small delay can help stop fraud before money is lost.
‘Trusted Person’ for Extra Safety
For senior citizens and high-risk users, RBI suggests adding a trusted person check.
Transactions above ₹50,000 may need approval from a chosen contact
Changing this trusted person will have a 24-hour waiting period
This adds an extra layer of safety for vulnerable users.
Emergency ‘Kill Switch’
RBI is also planning a “kill switch” feature.
With one action, users can:
Instantly block all digital payments
Stop further transactions if fraud is suspected
Reactivating services may require strong verification or even visiting a bank.
Limits Based on Your Profile
Banks may soon link your transaction limits to your financial profile.
Accounts without full verification may have a yearly limit (around ₹25 lakh)
Suspicious transactions could be temporarily held or reversed
This helps prevent misuse of bank accounts for fraud.
Real-Time Fraud Detection
Banks will also be asked to improve their systems using:
AI tools
Real-time monitoring
These systems can detect unusual activity and stop fraud before it happens.
What This Means for You
These changes are designed to protect users without making payments too complicated.
You may notice:
Slight delays for large transactions
Extra checks in risky situations
Better control over your account
Overall, this means safer digital payments with fewer chances of losing money.
The Bigger Picture
RBI is clearly focusing on one thing: building trust in digital payments.
As online transactions become a part of everyday life, these safety features could make a big difference in preventing fraud and protecting users.