{"id":215595,"date":"2026-04-10T14:45:04","date_gmt":"2026-04-10T09:15:04","guid":{"rendered":"https:\/\/newsfed.in\/english\/?p=215595"},"modified":"2026-04-10T14:45:04","modified_gmt":"2026-04-10T09:15:04","slug":"no-more-instant-loss-new-rbi-safety-feature-allows-users-to-cancel-fraudulent-transfers","status":"publish","type":"post","link":"https:\/\/newsfed.in\/english\/no-more-instant-loss-new-rbi-safety-feature-allows-users-to-cancel-fraudulent-transfers\/","title":{"rendered":"No More Instant Loss! New RBI Safety Feature Allows Users to Cancel Fraudulent Transfers"},"content":{"rendered":"\n<p>In a significant move to safeguard citizens from the rising tide of cybercrime, the Reserve Bank of India (RBI) has proposed a mandatory 1-hour &#8220;cooling period&#8221; for online transactions exceeding \u20b910,000. Under this new framework, account-to-account transfers via UPI or IMPS will not be completed instantly. Instead, the amount will be held for an hour, giving the sender a window to cancel the transaction in case of error or fraud.<\/p>\n\n\n\n<p>The RBI data highlights a staggering reality: while transactions above \u20b910,000 account for 45% of fraud cases, they contribute to a whopping 98.5% of the total financial loss. This &#8220;buffer time&#8221; is specifically designed to curb &#8220;social engineering&#8221; scams where victims are coerced into transferring large sums. For senior citizens over 70, the proposal even suggests mandatory approval from a &#8216;trusted person&#8217; for transfers exceeding \u20b950,000.<\/p>\n\n\n\n<p>However, the central bank clarified that daily micro-payments at shops, subscriptions, and transfers to pre-approved &#8220;whitelisted&#8221; contacts will remain instant. This proactive measure aims to prioritize security over speed in high-risk scenarios. The RBI has invited public feedback on this proposal until May 8, after which a final decision on its implementation will be made.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a significant move to safeguard citizens from the rising tide of cybercrime, the Reserve Bank of India (RBI) has proposed a mandatory 1-hour &#8220;cooling period&#8221; for online transactions exceeding \u20b910,000. Under this new framework, account-to-account transfers via UPI or IMPS will not be completed instantly. Instead, the amount will be held for an hour, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":215596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-215595","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-latest-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>No More Instant Loss! 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