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“Government to Introduce 4-Hour Delay for First-Time Digital Payments Over Rs 2000 to Combat Fraud”

Government to Introduce 4-Hour Delay for First-Time Digital Payments Over Rs 2000 to Combat Fraud

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The Indian government is considering implementing a new measure to combat online payment fraud. This measure involves introducing a minimum four-hour processing time for first-time digital transactions exceeding Rs 2,000. This initiative is aimed at providing an additional layer of security and verification for digital transactions, especially those occurring for the first time between two individuals.

A senior government official, speaking under the condition of anonymity, confirmed that this proposal is under consideration. The plan is to apply this four-hour time limit each time a user initiates a first payment exceeding Rs 2,000 to another user with whom they have not previously transacted. This approach is being considered to curb the rising incidents of online fraud, particularly in UPI transactions, which have become increasingly popular.

The implementation of this delay is seen as a crucial step in enhancing the safety and security of digital money transfers. By adding this time buffer, the government aims to reduce the risk of fraudulent transactions and provide users with a safer digital transaction environment.

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