RBI’s 5 Key Proposals to Curb Cyber Fraud

Reserve Bank of India has introduced five important proposals to control the rising cases of cyber fraud. With digital payments increasing rapidly, these steps are aimed at protecting users from online scams and making transactions safer.

One of the key proposals is to delay transactions above ₹10,000 by one hour, giving users time to cancel if they suspect fraud. The RBI has also suggested a “kill switch” feature that allows users to stop all digital payments instantly if any suspicious activity is noticed. For senior citizens above 70 years and persons with disabilities, transactions above ₹50,000 will require approval from a nominee.

Additionally, to control misuse of mule accounts used by cyber criminals, RBI plans to limit annual credits to ₹25 lakh in accounts without proper verification. It also proposed disabling UPI and internet banking by default in new bank accounts. These proposals will be reviewed based on public feedback before final implementation.