Finance
TonyRBI's Master Plan: One-Hour Delay to Outsmart Fraudsters
The RBI is shaking up the digital payments scene with a one-hour timeout for transactions over Rs 10,000. Why? To outsmart the fraudsters who thrive on speed. They're also introducing a superhero 'kill switch' to freeze payments faster than you can say 'fraud alert.' Time to rethink your money moves, folks — safety first, speed second!
few days ago | Amit Kumar
Quick rundown
1.RBI proposes delays in high-value digital transactions to combat fraud.
2.A one-hour cooling-off period is suggested for transactions over Rs 10,000.
3.Trusted-person approvals may be required for transactions above Rs 50,000.
4.A universal kill switch could allow users to instantly freeze payments.
5.The proposals aim to balance speed with security in India's digital payments.
