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RBI asks banks, NBFCs to increase awareness campaigns against frauds

Posted Date : 23-Jun-2020 , 09:50:37 am | Posted By CASANSAAR print Print
The Reserve Bank of India (RBI) on Monday told banks, non-banks and payments service providers to undertake targeted multi-lingual campaigns by way of SMSs, advertisements in print and visual media, etc, to educate their users on safe and secure use of digital payments.

In a circular, the Reserve Bank of India said it has been taking measures to improve awareness through its e-BAAT programmes and organizing campaigns on the safe use of digital payment modes to avoid sharing critical personal information like PIN, OTP and passwords. RBI said, it is necessary to reinforce efforts to spread awareness as incidents of fraud continue to bedevil digital users, often using the same modus operandi.

To promote safe digital transactions among the general public, RBI has reiterated that users should take care by not sharing with anyone their debit, credit or pre-paid card details. RBI has further advised users not to share their password, PIN, OTP, CVV and UPI-PIN. The apex bank has also cautioned the public from undertaking banking or other financial transactions through public, open or free WiFi-networks and storing important banking data on the mobile, e-mail, electronic wallet or purse. #casansaar (Source - NewsOnAir)

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