Rs 20,000 without KYC.... Rs 2,000 without additional factor authentication. It is not enough.  India's exponential use of digital wallets and prepaid accounts seem to leave behind The RBI, Banks and other regulators who are grappling with adequate regulatory measures to make sure that the ecosystem can withstand the volumes with least amount of frauds and losses.

Interestingly, why do we not adopt regulatory oversight from global economies. One for example is the CFPB-The Consumer Financial Protection Bureau. It came out with regulatory guidelines as follows. The link below is a must read for all following the digital cashless economy.

http://www.consumerfinance.gov/about-us/newsroom/cfpb-finalizes-strong-federal-protections-prepaid-account-consumers/

RBI should seriously consider adopting more stringent guidelines even before reaching out to the masses for higher adopting of wallets/UPI 

For one, the consumer protection and the grievance redressal system has to be precise. That's where CFPB does a wonderful job.

RBI and the industry needs to help payment and wallet companies on developing a strong Consumer Protection Framework that will enhance user experience.