In today’s time, digital payment has become an important part of our everyday life. Be it buying vegetables, paying bills or sending money to someone, everything is done in a few seconds. But with this speed and convenience, a big problem has also increased rapidly, and that is digital fraud. Now to reduce this threat, the Reserve Bank of India (RBI) is preparing a strong security plan.
RBI believes that as the digital payment system has become easier and faster, it has also become easier for fraudsters. The special thing is that in most of the cases there is no technical fault of the system, rather people themselves get deceived and transfer the money. This is called authorized payment fraud, where the user himself approves the transaction, but he is actually being defrauded.
RBI’s new security system
Keeping this problem in mind, RBI has issued a discussion paper, in which many new security measures have been suggested. Their aim is to make people more secure and give them better control over their money. The most important proposal is that except for small amounts, there can be some delay in big transactions. The Reserve Bank of India has suggested that a cooling period of about one hour should be kept for transactions above Rs 10,000. This rule may also apply to faster payment systems like UPI, so that customers can have time to stop the transaction if needed. However, payments made to merchants will remain outside this rule.
The benefit of this will be that if a person is sending money by mistake or under pressure, he can get time to think and stop the transaction. This small break can prevent many big frauds. Additionally, additional security checks may be imposed on large transactions for sensitive sections of society such as senior citizens. This will provide special security to those people who often become easy targets of thugs.
Crackdown on digital fraud will be tightened
The increasing cases of digital fraud have increased the concern. According to statistics, such cases have increased rapidly in the last few years. Lakhs of people have become its victims and thousands of crores of rupees have been lost. Fraudsters are now trapping people by using fake calls, fake apps, deepfakes and fake accounts.
RBI says that these new measures will not only reduce fraud but will also increase people’s trust in the digital payment system. Also, if the transaction takes some time, the money can be prevented from being transferred further immediately, which will increase the chances of recovery. At present, RBI has also sought suggestions from the common people on this proposal. This means that in the coming time, digital payment is going to become more secure, smart and reliable.
Cyber fraud is increasing
Digital fraud is on the rise Data from the National Cyber Crime Reporting Portal (NCRP) shows that there has been a huge increase in digital payment fraud in the last four years. Nearly 28 lakh cases were registered in 2025, amounting to Rs 22,931 crore, while 260,000 cases were registered in 2021, amounting to Rs 551 crore.
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