The Reserve Bank of India vide its notification dated 22nd June 2020 has directed all authorized payment systems operators and participants of payment systems to enhance public awareness through multiple channels on payment frauds.
Since the incidence of frauds continues to bedevil digital users, such as luring them to disclose vital payment information, swapping sim cards, opening links received in messages and emails, etc. There are also cases of users being tricked into downloading spurious apps that access critical information stored on devices. It is, therefore, essential that all payment systems operators and participants – banks and non-banks – continue and reinforce efforts to spread awareness about digital safety.
Therefore RBI has advised these entities to undertake targeted multi-lingual campaigns through SMSs, advertisements in print, and visual media to educate users on the safe and secure use of digital payments.
Click here to read the notification.
