In order to curb digital fraud, the Reserve Bank of India has released a discussion paper suggesting additional measures to prevent digital fraud. RBI has invited comments and feedback through the Connect 2 Regulate link on the RBI Website till 8th May.
As per National Cyber Crime Reporting Portal Data, around 28 lakh cyber frauds were reported in the year 2025, amounting to 22,931 crore rupees. To curb these frauds, the RBI has suggested 4 additional measures. RBI has suggested a time lag of 1 hour for the completion of digital payments of more than 10 thousand rupees.
During this period, the payer’s bank would provisionally debit the customer’s account, and the Customer would retain the option to cancel the transaction for any reason. In another measure, RBI has suggested additional authentication by a trusted person for senior citizens or for divyang. This trusted individual will acts as another layer of authentication for high value transactions.
As a third measure, RBI has suggested that, Customers can be provided with digital payment controls which would consist of a ‘switch on/off’ facility for any digital payment mode as well as for setting limits for different transaction types at the account level. This would allow customers to control the debit transactions at the account level across any or all digital payment channels.
In order to control the use of bank accounts as “mules” to route money proceeds of Digital Frauds, RBI has proposed to bring in a regulatory measure of limiting aggregate credits in an account without an additional review of satisfactory business relationships.
