RBI's anti-fraud proposals face industry pushback over disruption concerns. The central bank's plan to introduce one-hour payment delays for transactions above ten thousand rupees could harm small merchants' cash flows and prove insufficient against fraud. Industry experts argue the proposals address symptoms rather than root causes. They emphasize that most fraud stems from social engineering and human behavior exploitation, not technical system failures. A more targeted, technology-driven approach proportional to transaction risk is needed. Blanket delays risk disrupting legitimate payments and liquidity for unorganized sector merchants like local garages and second-hand sellers who depend on real-time settlements. Experts recommend upstream intervention focusing on behavioral factors over downstream safety nets alone.
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