[ad_1]
Digital fraud: To prevent financial fraud, the Modi government is likely to impose a 4-hour limit for digital transactions above Rs 2,000, including IMPS, RTGS and UPI, for the first time.
In view of the increasing cases of financial fraud through digital transactions, the Modi government is going to bring a big scheme. The government is going to introduce a security measure to reverse transactions within four hours on digital payments. Under this, for the first time, a limit of 4 hours is likely to be imposed for digital transactions of more than Rs 2,000, including IMPS, RTGS and UPI.
“For the first time, we are considering adding a four-hour time limit for digital transactions above Rs 2,000,” a senior government official said. “The Reserve Bank of India, along with various public and government and industry stakeholders on Tuesday will be discussed during a meeting, which includes private sector banks and technology companies like Google and Razorpay.
The official also said, ‘After paying someone for the first time, you will have four hours to refund or amend the payment. This will be on the lines of NEFT (National Electronic Fund Transfer), where transactions are done within a few hours. it happens.”
He said, “Initially we did not want to have any amount limit, but through informal discussions with the industry, we realized that this could impact small purchases like groceries etc. So we increased the amount from Rs 2,000 to Rs 2,000. are limited to less.” We are planning to give discount on transactions worth Rs.
Let us tell you that when a user creates a new UPI account, he can send up to Rs 5,000 in the first 24 hours. Same is the case with NEFT, where a maximum of Rs 50,000 can be transferred to the beneficiary in the first 24 hours after its activation.
[ad_2]
Source link
