Online transactions above ₹10 thousand may face a 1-hour delay !

• RBI studying proposal to curb digital fraud

• Suggestions invited till 8 May; implementation likely thereafter

Mumbai – Online transactions exceeding ₹10 thousand may no longer be processed instantly and could be delayed by up to one hour. This move may give customers an opportunity to stop or reverse incorrect transactions. The Reserve Bank of India has proposed this measure to curb the rising cases of digital fraud in the country. After discussions, detailed guidelines may be issued in the coming months, and implementation will be carried out in phases.

1.  Fraudsters often create psychological pressure and force quick money transfers. This delay could help reduce such incidents by giving users time to think or correct mistakes.

2.  Security measures will be made stricter for senior citizens above 70 years and persons with disabilities. For transactions exceeding ₹50 thousand, approval from a trusted person may be required.

3.  If money is being sent to a known individual or merchant, they can be added to a ‘whitelist’ (approved list). Transactions made to whitelisted entities will not face the 1-hour delay, ensuring that regular transactions are not disrupted.

4.  A ‘kill switch’ has been recommended by the bank. If a customer suspects that their account has been hacked or notices any suspicious transaction, they will be able to instantly disable all digital payment services with a single click.

In 2025, digital fraud caused losses exceeding ₹22 thousand crore in the country. The bank has invited suggestions from the public and stakeholders till 8 May, after which further action will be taken.