RBI Moves Towards Key Decision on UPI Payments

The Reserve Bank of India (RBI) is reportedly considering a key decision to introduce new regulations for UPI transactions above ₹10,000. This proposed measure is aimed at curbing online financial frauds and addressing the rising number of digital payment scam cases. The primary objective of this initiative is to enhance the safety and security of digital transactions.

According to the proposal, transactions exceeding ₹10,000 through digital payment systems may take up to one hour to be credited to the recipient’s account. During this time window, the sender may also be given the option to cancel the transaction if they change their decision.