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VERIFIEDET Finance·neutral
Banks propose 'Yes-No' prompt for high-risk UPI transfers to curb digital payment frauds
AI Summary
- ·Indian banks are proposing 'Yes-No' prompts for high-risk UPI transfers to combat digital payment fraud.
- ·The proposed prompts would target suspicious transactions rather than all payments above a certain threshold.
- ·The Reserve Bank of India is currently reviewing these suggestions for potential new guidelines.