RBI Plans 1-Hour Wait for Digital Payments Over ₹10,000

Reserve Bank of India (RBI) is planning to make digital transactions safer.

In a new discussion paper, the central bank has suggested extra security steps to reduce rising online frauds.

These frauds include fake call centres, deepfake scams, and misuse of bank accounts.

The RBI says many people, especially senior citizens, are being targeted.

So, stronger protection is now necessary.

Online fraud cases are increasing rapidly across the country.

According to RBI:

Transactions above ₹10,000 make up 98.5% of total fraud value

These account for nearly 45% of fraud cases

This is why the focus is on adding security checks for higher-value transactions.

The RBI has suggested four main options to improve safety:

Payments above ₹10,000 may be delayed before completion.

Senior citizens or at-risk users may need a trusted person’s approval.

Only verified accounts may receive large amounts.

Users may get more control to limit or manage transactions.

One major proposal is a 1-hour delay for transfers above ₹10,000.

During this time:

You can cancel the payment if needed

Banks may reconfirm suspicious transactions

This rule will apply mainly to account-to-account transfers.

However, some payments will not be affected, such as:

Merchant payments

Auto-debits (e-mandates)

NACH transactions

Cheque payments

You may also be able to whitelist trusted accounts to skip the delay.

The RBI is asking for feedback from the public and stakeholders.

People can share their views until May 8 through the RBI’s official portal.

After reviewing responses, the central bank may release final guidelines.

If these rules are implemented, digital payments could become safer but slightly slower for bigger amounts.

The goal is simple: give users more time and control to stop fraud before it happens.