The government has started discussions on building new filters and safeguards for digital financial transactions amid rising concern over burgeoning cases of fraud.

The Ministry of Finance, Reserve Bank of India (RBI), Ministry of Electronics and Information Technology (MeitY) and National Payments Corporation (NPCI) of India are examining mandatory filters above a certain monetary threshold, including one-time passwords (OTP) for digital payments, a top government official told ET.

“We are also discussing how to create intelligence within the payment systems that can be used to filter out or block such transactions,” the official said.

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