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RBI governor urges banks' chiefs to address rising digital frauds

RBI Governor Sanjay Malhotra stressed the importance of robust systems to combat fraud, advising banks to strengthen measures for protecting against such risks.
RBI Governor Shaktikanta Das has urged bank chiefs to address the escalating issue of digital frauds during a meeting with the heads of public and private sector banks. He emphasized the need for robust cybersecurity measures and better customer protection mechanisms to combat the increasing instances of digital fraud. Das highlighted the importance of banks adopting advanced technologies and improving their fraud detection and prevention systems. Additionally, he stressed the significance of educating customers about safe banking practices to minimize fraud risks. The meeting also covered other critical issues like credit growth, asset quality, and the overall health of the banking sector, but the focus was predominantly on enhancing digital security to safeguard both the banks and their customers.

Read the Full cnbctv18 Article at:
[ https://www.cnbctv18.com/business/finance/rbi-governor-urges-banks-chiefs-to-address-rising-digital-frauds-19547224.htm ]