RBI seeks feedback on authorized push payment scam safeguards
Worried about online payment fraud? So is the Reserve Bank of India (RBI).
With digital transactions booming, and scammers getting smarter, the RBI has rolled out fresh proposals to make things safer, especially against authorisd push payment scams.
They're also asking for public feedback on these ideas until May 8, 2026.
RBI proposes delay, authentication and limits
The RBI suggests adding a short delay for transactions over ₹10,000 so you have time to spot anything fishy.
For bigger payments above ₹50,000, especially if you're a senior citizen, they recommend extra authentication steps.
There's also talk of annual credit limits to stop accounts from being turned into mule accounts by fraudsters.
RBI proposes digital payments kill switch
One standout idea: a "kill switch" that lets you instantly block all digital payments from your account if something feels off.
These changes aim to keep things convenient but much safer, and your input could help shape the final rules.