The Reserve Bank of India (RBI) has proposed new measures to reduce digital payment fraud, including a “kill switch” and a short delay for higher-value transactions.
Under the plan, payments above ₹10,000 made via UPI, IMPS, NEFT, RTGS, wallets, and net banking could be delayed by up to one hour. This cooling period would allow banks or users to detect suspicious activity and stop fraudulent transfers before they are completed.
The RBI has also suggested a “kill switch” feature that would let customers instantly disable all digital payment services linked to their bank account. This would block transactions across cards, UPI, and internet banking until reactivated through strict verification.
The measures aim to address rising cases of online fraud, especially scams where users are tricked into authorising payments themselves. The central bank says the speed of digital transactions, while convenient, has made it harder to prevent fraud in real time.
The proposals are part of wider efforts to strengthen safeguards across India’s fast-growing digital payments ecosystem while balancing speed with security.
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