Digital fraud: RBI’s safety proposals are broadly welcome but could be fine-tuned to suit everyone
Overall, the proposals are both reasonable and broadly in line with those other countries use. They could help fight digital frauds. However, as curbs on large credits could hamper genuine transfers, they may need a rethink. To maximize user agency, rupee caps are best left for users to decide. Many above-70s, for example, move large sums around by their own volition; sudden medical expenses could require it.
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