New Delhi
Reserve Bank of India has made a strong plan to get rid of banking fraud. Actually, the central bank has advised to send banking calls and messages from a special number series. Its purpose is to help users easily identify fraud calls and messages. For this, RBI on Friday asked banks to use only ‘1600xx’ phone numbering series for transactions with customers, so that financial fraud can be prevented. The same RBI says that banks and other financial institutions should use only ‘140xx’ numbering series for promotional messages or calls. Every bank will have to implement the new guidelines of RBI before March 31, 2025.
RBI’s efforts to stop fraud
RBI says that an increase has been registered in the cases of digital transactions. To get rid of this, RBI has issued a circular and made some proposals. Let us tell you that in today’s time the customer’s mobile number can be used as ID. The mobile number is used for account verification. In such a situation, OTPs and transaction alerts and account updates for online payments are obtained from the mobile number, which becomes the cause of fraud.
Reduction in incidents of banking fraud
According to the annual report of the Reserve Bank of India (RBI), about 8,703 banking frauds were committed in the financial year 2020, which reduced to 7,338 in the financial year 2021 in the next one year. However, incidents of banking fraud increased to 9,046 in the financial year 2022. Similarly, 13,564 banking incidents have been carried out in the financial year. Whereas in the financial year 2024, the maximum number of 36,073 banking fraud incidents have occurred.
How much was the banking fraud?
Although there has been more fraud in these banking frauds, there has been a loss of money. Banking fraud of Rs 1,85,468 occurred in the financial year 2020. In the same financial year 2021, the country has faced a loss of Rs 1,32,389 due to banking fraud. In the financial year 2022, this figure comes down to Rs 45,458. Whereas in the financial year 2023 it will be Rs 26,127 and in the financial year 2024 it will be Rs 13,930.
