UPI Minimum Time Limit: Effort to protect people from cyber fraud, such time limit may be imposed on UPI

Digital payment has grown rapidly in India and now the situation is such that transacting through UPI has become normal even in remote rural areas. However, along with this growth of digital payments, cases of online fraud have also increased rapidly. The government is continuously taking several measures to stop the increasing cases of fraud in online payments.

Consideration on minimum time limit

Thousands of suspicious numbers have already been blocked in this regard. Has gone. Now the government is planning to impose some restrictions on UPI transactions to prevent online payment fraud. Among the measures being considered, the most important is the minimum time limit for UPI payment. No final decision has been taken yet in this regard, but it is being actively thought about.

A limit of 4 hours can be imposed

Now it is important to know this. What is this minimum time limit? UPI payment takes place between two users, one of whom is the payer and the other the receiver. It is proposed to impose a minimum time limit for the first UPI transaction between two users. Currently, consideration is being given to keeping the minimum time limit at 4 hours.

70 lakh numbers have been suspended

Earlier, the government has already closed many suspicious numbers. Financial Services Secretary Vivek Joshi, after a meeting with bank officials, had said on Tuesday that the government has already suspended 70 lakh mobile numbers due to their involvement in suspicious transactions. Suspending suspicious mobile numbers is also included in the possible measures to curb online payment fraud.

Working in collaboration with banks

Government is dealing with the increasing online payment fraud across the country. Very worried. For this reason, the government is also considering and trying other measures to curb such cases of fraud. The government is also considering various measures in collaboration with banks to strengthen customer information security.

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