India, April 9 -- Amid an ongoing increase in digital financial theft, the Reserve Bank of India (RBI) has introduced a time lag for certain authorised push payments (APP) transfers at both the payer and payee ends as an effective fraud-mitigation measure.

In a discussion paper, "Exploring safeguards in digital payments to curb frauds", the RBI has proposed various measures to control and reduce the possibilities of financial fraud in its discussion paper, which is open for comments and feedback until May 8.

The apex bank has suggested introducing a 1-hour delay for processing digital transactions worth Rs.10,000 or more.  This delay will be implemented on all merchant transactions done from UPI, cards, net banking, etc. However, r...