reserve bank governor sanjay malhotra gave advice to banks instruct to prevent digital fraud

The incidence of digital fraud in India has increased to a great extent. To prevent these increasing incidents, the Reserve Bank of India has also directed to take action. In this regard, now Sanjay Malhotra, the Governor of the Reserve Bank of India, has also given new suggestions to the banks.

RBI Governor Sanjay Malhotra has instructed banks to curb such digital fraud incidents. The RBI Governor has suggested to create a strong and active system for this. Along with this, banks have been urged to increase the surveillance of third party service provider to reduce risks.

RBI Governor Sanjay Malhotra has a meeting with officials of public and private banks. He has discussed this issue in this meeting. Malhotra has expressed his concern in view of the increasing number of digital fraud. The RBI Governor has asked to take steps to set up a strong and active system on the issue of digital fraud.

After this meeting, an official statement has come from the RBI. According to this statement, the risk related to information technology, cyber security has been discussed. Sanjay Malhotra has advised the banks to take steps to thwart the efforts of those who fraud. The RBI said that the chief has advised banks to increase the surveillance on third party service provider. In such a situation, the risks arising from third party will be reduced. In the meeting, the RBI insisted that it is necessary to work closely with banks. Significantly, this meeting was part of maintaining contact with senior officials of RBI institutions. Earlier such a meeting was held on 3 July 2024.