RBI Mulls 1-Hour Delay For Digital Transactions Above ₹10,000
by Anne Florentyna · Inc42SUMMARY
- The central bank has proposed measures to reduce the possibilities of financial fraud in its discussion paper and feedback is open until May 8
- For transactions exceeding ₹10,000, users would experience a lag of an hour, and the delay will be implemented on all transactions done from UPI, cards, net banking
- For transactions worth ₹50,000 and above, the central bank suggests a 24-hour delay period for citizens aged 70 years and above