India to have real-time fraud registry system
Nabanita Dutta
News Editor
Image Credit: shortpedia
The Reserve Bank of India has announced that it is setting up central payments fraud information registry to monitor risks in the digital payments segment in real-time. At present, there is a system for the banks to report the frauds to the Central Fraud Monitoring Cell of the Reserve Bank. With the growth of Indian digital payments, the risks of frauds have also increased, and the real-time reporting will be beneficial.
