RBI seeks feedback on digital payment delay above ₹10,000
Business
The RBI is looking to make online payments safer by proposing a delay for certain digital payments above ₹10,000.
This move comes as digital payment fraud is on the rise, and the central bank is seeking stakeholder feedback before making any changes.
RBI suggests checks and customer controls
Along with the payment delay, the RBI suggests extra security checks for high-value transfers by vulnerable users, tighter controls on which accounts can receive money, and giving customers more power to turn off digital payment options if needed.
All these steps are meant to help keep your money safe as scams get smarter.