Sign In
Learn bits
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 

More Related Current Affairs View All

08 Sep

Rajasthan’s coaching centre Bill

'The Rajasthan Coaching Centres (Control and Regulation) Bill, 2025, is a significant piece of legislation passed by the Rajasthan Assembly to regulate and oversee the state's burg

Read More

28 Aug

IADT-1

'Recently, the Indian Space Research Organisation (ISRO) successfully carried out its first Integrated Air Drop Test (IADT-1), a crucial milestone in the preparation for the countr

Read More

28 Aug

H-1B visa changes

'H-1B visa changes 2025: United States Commerce Secretary Howard Lutnick called the popular H-1B visa program a “scam”, saying that American businesses should be focuse

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps