RBI proposes 60-minute delay on big UPI and IMPS transfers to curb fraud
10 Apr 2026, 11:58 AMThe RBI has invited public feedback on the proposal until early May.
Share the story on
India's Reserve Bank of India (RBI) is considering a significant change to how high-value digital payments work.
The central bank has floated a proposal that would introduce a mandatory waiting window of up to one hour on person-to-person transfers of more than Rs 10,000 made through unified payments interface (UPI) and IMPS.
The move is aimed at tackling the growing menace of online financial fraud, particularly scams where victims are manipulated into sending money instantly. Since both UPI and IMPS settle in real time, there is little room for intervention once a transfer goes through.
Importantly, payments to verified merchants would not be affected, so everyday shopping and business transactions would continue as normal. The RBI has also proposed a trust-list mechanism, where users can pre-approve certain recipients and bypass the cooling-off period entirely.
Special attention is also being given to senior citizens and other vulnerable groups, who may be more susceptible to social engineering scams.
Data from the National Cyber Crime Reporting Portal shows digital payment fraud cases have grown tenfold in just four years, with the total amount lost jumping from Rs 551 crore in 2021 to a staggering Rs 22,931 crore in 2025.
The RBI has invited public feedback on the proposal until early May.
Who Reads Us
“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”
“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”
“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”
“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”
“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”
