India’s Digital Shield Unveiled: Banks Brace for Shocking Rules

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In the vast and dusty corridors of this modern empire, India has commenced a stern campaign against the sly specter of online deceit, with a windfall of stricter checks and new rules intended to dam the rising flood of fraud. The murmurs of traders and villagers alike tell of regulations marching like a company of soldiers through the bazaars and courts, and one can only smile at the irony: the more the machines remember, the more the human cunning tries to outwit them. Yet still, we persevere, with a wink and a sigh, as if a comedy of gears and ledgers could save us from folly. 😅😂

India: The RBI and NPCI, Swift as Thunder

Regulators, like stern patriarchs convened in a council, have pressed a multitude of changes into the loom of banking and payments. Figures published show that mischief tied to the Unified Payments Interface, or UPI, has more than doubled-from about 7.25 lakh to 13.42 lakh incidents in the fiscal year 2023-24-almost as if the rupee learned to count its own misfortunes. 🤔

Reported losses rose likewise, from ₹573 crore to ₹1,087 crore in the same interval. The central bank has permitted risk-based additional checks for certain transactions, while NPCI has instructed banks and apps to block pull or collect requests on UPI from October 1, 2025, a maneuver intended to seal a common avenue of mischief. 😏

The Reserve Bank of India (@RBI) releases new guidelines on authentication for #digital payment transactions, set to take effect from April 1, 2026.

The framework mandates two-factor authentication for all digital payments, though no specific method is enforced.

The central…

– All India Radio News (@airnewsalerts) September 25, 2025

New Authentication And Domain Rules

One of the principal changes is to require two-factor authentication for payments, to take effect on April 1, 2026. Banks and payment firms will need to apply at least two methods of identification for transactions-biometrics, device tokens, or passphrases-while SMS OTPs may still be permitted in certain cases. 😅

Reports also say the industry will be urged to reserve clear, trusted web domains for banks and finance firms-examples given include “bank.in” for banks and “fin.in” for non-bank financial companies-to make phishing sites easier to spot and block. 🤨

How Users And Banks Will Be Affected

The new rules aim to halt impersonation scams, fake calls that pretend to be law enforcement, and other social-engineering tricks that siphon funds from accounts. A Cyber Fraud Mitigation Centre and the Indian Cyber Crime Coordination Centre will coordinate responses, and a suspect registry drawn from the national cybercrime portal is used to track suspicious accounts and identities. Banks and Aadhaar-enabled payment service providers face stricter due diligence for their agents and terminals. 😬

Costs, Complexity And The Rural Gap

Banks and tech providers must upgrade systems to perform the extra checks and maintain records. The cost and complexity will bite hardest those smaller firms and rural operators who still dance with older devices. 💸

Users may encounter more steps when paying, particularly for cross-border or unusual transactions. Reports warn that fraudsters adapt as rules tighten, so these measures will require constant review and vigilant enforcement to remain effective. 😅

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2025-09-26 20:02