New Delhi, March 25 -- With digital payment fraud emerging as a growing concern, the government on Tuesday outlined a comprehensive, technology-driven strategy combining stricter RBI norms, artificial intelligence tools and large-scale public awareness campaigns to protect users and strengthen trust in the system.
Minister of State for Finance Pankaj Chaudhary informed the Rajya Sabha that the Reserve Bank of India has updated its framework on unauthorised electronic banking transactions to address challenges arising from rapid digitisation.
The revised guidelines include provisions for compensation in small-value unauthorised transactions, ensuring quicker relief and stronger consumer protection.
In a significant move to tackle fraud at...