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RBI's One-Hour Delay: A Game Changer Against Fraud!

RBI's One-Hour Delay: A Game Changer Against Fraud!

The RBI is putting the brakes on big digital payments over Rs 10,000! Starting soon, you'll have to wait an hour before sending the cash, giving you time to think twice and avoid those sneaky fraudsters. Plus, if you're a senior or need a buddy, a trusted person can give a thumbs-up before those hefty transactions. Get ready to rethink your payment game!

Quick rundown

  1. RBI proposes delays in high-value digital transactions to combat fraud.
  2. A one-hour cooling-off period is suggested for transactions over Rs 10,000.
  3. Trusted-person approvals may be required for transactions above Rs 50,000.
  4. A universal kill switch could allow users to instantly freeze payments.
  5. The proposals aim to balance speed with security in India's digital payments.

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