India's central bank mulls delay for some digital payments to curb fraud

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April 9 : India's central bank on Wednesday suggested introducing a delay for certain digital payments above a threshold as part of measures to curb rising fraud, and sought stakeholder feedback on the proposals in a discussion paper.

The Reserve Bank of India outlined four possible safeguards, including a lag for certain authorised push-payment transactions above 10,000 rupees ($107.92), additional authentication for high-value transfers by vulnerable users, limits on credits into some bank accounts without enhanced checks, and customer-controlled safeguards such as disabling digital payment channels.

($1 = 92.6575 Indian rupees)

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