Move Aimed at Curbing Rising Digital Payment Frauds !

India’s Unified Payments Interface (UPI), one of the world’s fastest and most widely used digital payment systems, may soon see a new safety mechanism being considered by the Reserve Bank of India (RBI). At present, users can send up to ₹1,00,000 per day through UPI without major restrictions, enabling seamless instant transactions across the country.

However, according to reports, the RBI is discussing a proposal to introduce a temporary hold system for high-value UPI transactions above ₹10,000. Under this proposed system, such payments could be kept on hold for up to one hour, allowing users the option to cancel the transaction if needed. This step is being considered as a safeguard against rising cases of digital fraud, where users have reportedly lost large sums of money through phishing links and fraudulent UPI requests.