Banks propose 'Yes-No' prompt for high-risk UPI transfers to curb digital payment frauds

Indian banks are proposing payment app prompts to curb rising digital frauds. This aims to balance fraud prevention with maintaining digital payment convenience. Banks suggest prompts for suspicious transactions, not all payments above a threshold. The Reserve Bank of India is considering these suggestions for new guidelines. This initiative seeks to protect users while preserving digital payment growth.

Raccontata daeconomictimes.indiatimes.com