The discussion paper proposes safeguards to curb rising digital payment frauds, particularly Authorised Push Payment (APP) frauds driven by social engineering. It proposes four key measures, i.e., introducing a time lag for high-value transactions above Rs 10,000 to allow cancellation, mandating additional authentication through a trusted person for vulnerable groups for transactions above Rs 50,000, restricting large credits in low-verified accounts, and enabling customer controlled safeguards such as transaction limits and a ‘kill switch’ to disable digital payments instantly. The feedback/ comments from stakeholders are invited.
(Link: RBI Discussion Paper, Press Release Dated 09/04/2026)