The Reserve Bank of India (RBI) has unveiled a discussion paper that outlines several proposals aimed at tackling the significant surge in digital payment fraud. These measures include implementing a one-hour delay on account-to-account transfers over INR 10,000 via fast payment networks such as the Unified Payments Interface, providing customers more time to retract transactions if they suspect fraudulent activity.

The RBI has set an end date of May 8, 2026, for public comments on these proposals, with formal guidelines expected to be drafted following a review of feedback received.

Enhanced Protections for Senior Citizens and Vulnerable Individuals

To protect senior citizens and those with disabilities, the RBI is contemplating stricter measures. Under these proposals, individuals aged 70 and above and people with disabilities might require approval from a designated trusted person for transactions exceeding approximately USD 537. While the RBI plans to provide an option for customers to opt out of this requirement.

Additional proposed measures include setting annual transaction limits on certain bank accounts pending further verification, and introducing kill switches that enable users to instantly disable all digital payment functionalities.

Responding to the Rise in Digital Payment Fraud

These proposals come as a response to a marked increase in digital payment fraud cases in India, which has seen a more than tenfold increase from 2021 to 2025. The value of losses during this period nearly quadrupled to approximately USD 2.49 billion. The RBI identified fake call centers, mule accounts, and deepfake impersonation scams as significant contributors to these fraudulent activities.