Now there will be a brake on instant money transfer, there will be a delay of 1 hour on sending more than 10,000 UPI

UPI Transaction Limit: Has become the biggest name of digital payment in India UPI Now we can move towards a big change. While till now the hallmark of UPI has been instant money transfer, now there may be some restriction on this speed. In fact, Reserve Bank of India (RBI) has issued a new proposal, the aim of which is to stop the increasing digital fraud.

1 hour delay on transactions above ₹10,000

• According to the RBI proposal, if a user makes a UPI transfer of more than ₹10,000, the transaction will not be completed immediately.
• The amount will be deducted from the account of the sender immediately, but the amount will reach the account of the recipient after about 1 hour.
• The most important thing during this time is that if the sender wishes, he can cancel this transaction within 1 hour.

The rule will apply only to P2P transfer

This new rule will apply only to person-to-person (P2P) transfers. That means, if you make payment by scanning QR code at any shop, then this change will not affect it. Your daily small payments will continue to be completed instantly as before.

Cyber ​​fraud will be curbed

RBI believes that this change can prove to be very helpful in preventing digital fraud. Nowadays, cyber criminals withdraw cash by transferring it to multiple accounts within a few minutes, which makes recovery difficult. In such a situation, a delay of 1 hour can become a strong weapon to prevent fraud.

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Golden hour will give you a chance to think

RBI calls this 1 hour delay as &8220;Golden Hour&8221; Is agreeing. During this time the user will get a chance to understand whether the transaction is valid or not. If someone suspects fraud, he can immediately cancel the transaction.

Everyday payments will not be affected

This offer will not affect your daily payments. Auto-debit, subscription and small transactions will continue as before. This rule will provide more security especially while sending money to an unknown person.