Mumbai, April 10 -- To mitigate financial fraud, the Reserve Bank of India (RBI) on Thursday proposed lagged credit for authorised push payments and a control or kill switch for digital payments. It further proposed limiting aggregate credits in an account to help counter the problem created by mule accounts, and the designation of a trusted person to authenticate high-value transactions for citizens aged 70 years and above and persons with disabilities. The central bank proposed these norms in a discussion paper released on Thursday amid a rise in fraudulent activities targeting customers. It announced the discussion paper as part of its statement on developmental and regulatory policies during the February monetary policy meeting. The central bank has asked for feedback and comments on the discussion paper by May 8. National Cyber Crime Reporting Portal (NCRP) indicate that fraud related to digital payments is on the rise, with 28 lakh frauds reported in 2025, amounting to Rs.22,931 crore, higher than 24 lakh, totalling Rs.22,848 crore in 2024, 13.1 lakh worth Rs.7,465 crore in 2023, according to the discussion paper. In the lagged credit for authorised push payments, the central bank proposed a short delay at the payer's end for transactions above Rs.10,000. Under this approach, once a customer initiates a transaction exceeding Rs.10,000, a lag period of one hour could be applied. The lag can be applied at the payer's end, or at the payee's end, or both. During this period, the payer's bank would provisionally debit the customer's account, and the payer would retain the option to cancel the transaction for any reason....