Payment and settlement systems play an important role in improving overall economic efficiency. They consist of all the diverse arrangements that we use to systematically transfer money-currency, paper instruments such as cheques, and various electronic channels.
Over the past decade, digital payments in India have expanded at an unprecedented pace, reflecting a structural shift in the way individuals and businesses conduct financial transactions. However, this has been accompanied with growing sophistication of fraudulent activities targeting customers.
In alignment with the objective of promoting digital payments in a safe and secure manner, and as announced in the Statement on Developmental and Regulatory Policies dated February 6, 2026, RBI has today issued a Discussion Paper on Exploring safeguards in digital payments to curb frauds.
Comments / feedback on the questions raised in the Discussion Paper may be submitted through ‘Connect 2 Regulate’ link on RBI website latest by May 8, 2026.
(Brij Raj) Chief General Manager
Press Release: 2026-2027/57