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Economy
Mahesh

30/08/22 21:47 PM IST

RBI to set up fraud registry to check banking frauds

In News 
  • The Reserve Bank of India (RBI) is considering setting up a fraud registry to create a database of fraudulent websites and phone numbers with locations as part of its efforts to strengthen customer protection and check digital frauds.
About the registry 
  • The registry will create a database of fraudulent websites, phones and various methods used by fraudsters.
  • Payment system participants will be provided access to this registry for near-real-time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks.
  • Improve consumer protection amid cases of digital fraud
‘One Nation One Ombudsman’
  • Launched in 2021 as an integrated consumer grievance redressal mechanism for addressing service deficiencies in banking, NBFCs and digital payment systems.
  • To make the alternate dispute redressal mechanism simpler and more responsive to the customers of regulated entities.
  • Under this,18 lakh complaints were received during 2021-22 and as many as 97.9 per cent of cases were cleared last financial year.
  • The ombudsman portal has the facility of immediate registration, generation of acknowledgment with a complaint number, tracking of the status of the complaint and less delay. 
Source- Business Standard 

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