**Summary:**
The Reserve Bank of India (RBI) issued a directive (DPSS.CO.OD.No.1934/06.08.005/2019-20) on June 22, 2020, addressed to all authorized Payment System Operators (banks and non-banks) and Participants of Payment Systems (banks and non-banks), regarding increasing instances of payment frauds. Despite RBI's ongoing efforts to enhance public awareness through e-BAAT programs and campaigns on the safe use of digital payment modes, fraud incidents persist, often exploiting previously cautioned methods such as phishing for vital payment information, SIM swapping, and malicious links. The RBI advises all authorized payment systems operators and participants to continue and reinforce efforts to spread awareness about digital safety. Specifically, they are instructed to undertake targeted multilingual campaigns via SMS, print, and visual media advertisements to educate users on safe and secure digital payment practices. Receipt of this directive should be acknowledged. Further inquiries can be directed to P. Vasudevan, Chief General Manager, Department of Payment and Settlement Systems, Central Office, 14th Floor, Central Office Building, Shahid Bhagat Singh Road, Fort, Mumbai – 400001. Tel: 91-22-2260-1000; Fax: 91-22-2265-9566; email: cgmdpsscorbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the country's monetary policy and financial system.
Payment System Operators: Entities authorised by the Reserve Bank of India to operate payment systems.
eBAAT programmes: Awareness programs by Reserve Bank of India to promote safe digital transactions.
PIN: Personal Identification Number, a security code for verifying identity.
OTP: One-Time Password, a single-use code for verifying transactions.
P. Vasudevan: Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India.
Department of Payment and Settlement Systems: A department within the Reserve Bank of India responsible for payment and settlement systems.
Mumbai, Maharashtra: City in India, location of Central Office Building, Reserve Bank of India
भारतीय �रज़व र् बक�
RESERVE BANK OF INDIA
www.rbi.org.in
RBI/2019-20/256
DPSS.CO.OD.No.1934/ 06.08.005 / 2019-20 June 22, 2020
The Chairman / Managing Director / Chief Executive Officer
Authorised Payment System Operators (banks and non-banks) /
Participants of Payment Systems (banks and non-banks)
Madam / Dear Sir,
Increasing Instances of Payment Frauds – Enhancing Public Awareness Campaigns
Through Multiple Channels
As you are aware, safety and security of digital transactions are of paramount importance.
Reserve Bank has been taking measures to improve awareness through its e-BAAT
programmes and organising campaigns on safe use of digital payment modes, to avoid
sharing critical personal information like PIN, OTP, passwords, etc.
2. Inspite of these initiatives, incidence of frauds continue to bedevil digital users, often using
the same modus operandi users were cautioned about, such as luring them to disclose vital
payment information, swapping sim cards, opening links received in messages and mails, 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.
3. All authorised payment systems operators and participants are hereby advised to undertake
targeted multi-lingual campaigns by way of SMSs, advertisements in print and visual media,
etc., to educate their users on safe and secure use of digital payments.
4. Please acknowledge receipt.
Yours faithfully,
(P. Vasudevan)
Chief General Manager
भुगतान और िनपटान �णाली िवभाग, क��ीय कायार्लय, 14 वी मंिजल, क��ीय कायार्लय भवन,शहीद भगत �संह मागर्, फोट,र् मुम्बई - 400001
फोनTel: (91-22) 2260 1000; फैक् सFax: (91-22) 2265 9566; ईमेल-e-mail : cgmdpssco@rbi.org.in
Department of Payment and Settlement Systems, Central Office, 14th Floor, Central Office Building, Shahid Bhagat Singh Road, Fort, Mumbai -400001
�हदं ी आसान ह,ै इसका �योग बढ़ाइए