In today’s digital era, where payment is made with one click, the network of cyber fraud is also spreading equally rapidly. To keep your hard-earned money safe, the Reserve Bank of India (RBI) has introduced some revolutionary proposals. These new rules aim to curb online fraud and give customers better control over their money. RBI has also sought suggestions from the general public on this till May 8, 2026.
One of the biggest proposals of RBI is kill switch. This will be such a magical button in your mobile that as soon as you press it, all the digital payment modes (like UPI, Net Banking, Card) linked to your account will stop immediately. If you ever feel that your phone has been hacked or you have become a victim of some fraud, you will be able to freeze all your digital services at once. Once the kill switch is activated, you may have to go through a stringent security process or visit a bank branch to reactivate it.
There will be a ‘time gap’ in payments above Rs 10,000
RBI has suggested lagged credit to prevent frauds. Under this, if you pay more than ₹ 10,000, it will not reach the other person’s account immediately. There may be a hold period of one hour after initiating the transaction. The money will be deducted from your account during this one hour, but you will have the option to cancel the payment before it reaches others. Statistics show that transactions larger than ₹10,000 account for about 98.5% of the total fraud value.
Additional protection for the elderly and disabled
RBI has introduced the concept of trusted person for senior citizens above 70 years of age and people with disabilities. During larger transactions, these customers can choose someone they trust who will authenticate or verify the transaction. This will stop the thugs who target the elderly.
Why were these rules necessary?
According to the National Cyber Crime Reporting Portal (NCRP), the cases of digital fraud in India are scary. In the year 2025, about 28 lakh fraud cases were reported, in which people suffered a loss of Rs 22,931 crore. To prevent frauds through mule accounts (accounts opened in the name of others), RBI is now considering setting a limit on the total credit coming into the accounts.
