Curbing UPI fraud! A 'YES/NO' alert will now appear on the screen before suspicious payments; banks have devised a major plan..

Digital transactions worth billions of rupees are taking place daily in the country via the Unified Payments Interface (UPI). However, incidents of online scams, cyber fraud, and fake refund or customer care scams have also risen sharply. To curb this digital payment fraud, Indian banks have proposed a new security model to the National Payments Corporation of India (NPCI) and the Reserve Bank of India (RBI). Under this model, a 'YES/NO' confirmation prompt (pop-up alert) will appear on the user's screen before processing suspicious or high-risk UPI transfers. Let us understand in detail what this new 'YES/NO' alert system from banks is, how it will work, and the extent to which it will protect the average UPI user.

**New Plan to Curb Fraud**