Positive impactSector
Banks propose 'Yes-No' prompt for high-risk UPI transfers to curb digital payment frauds
Economic Times 7 hrs ago·2 Aug 2026, 7:04 pm
Indian banks have proposed introducing a 'Yes-No' prompt for high-risk UPI transfers to combat rising digital payment frauds. This move aims to strike a balance between preventing fraudulent transactions and maintaining the convenience of digital payments.
The proposed prompts would be displayed for suspicious transactions, rather than all payments above a certain threshold. This approach seeks to protect users from potential frauds while preserving the growth of digital payments.
The Reserve Bank of India is considering these suggestions as it works on new guidelines for digital payments. Investors should watch for updates on this initiative and its potential impact on the broader digital payments sector.
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- Category: Sector.
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