Finance
Big GuyRBI's New Plan: Adding Friction to Keep Your Cash Safe
Hey, folks! The RBI's thinkin' about adding some friction to our digital payments, just like a little traffic jam for your cash! Why? To stop those tricky fraudsters from swiping your dough! They're gonna throw in some delays and extra checks, like waiting for your favorite sandwich to be made. So, keep your wallets close and your eyes wider, my friends! Money safety first!
few days ago | Subrata Panda
Quick rundown
1.RBI plans to introduce 'frictions' in digital payments to curb fraud.
2.Authorised push payment frauds are a growing global challenge.
3.Proposed measures include a one-hour delay for large transactions.
4.Digital payment frauds have increased 41 times in value over five years.
5.RBI aims to expand UPI's international reach and enhance security.
