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RBI to roll out AI-driven system to protect interests of bank customers

RBI to roll out AI-driven system to protect interests of bank customers
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RBI To Roll Out AI-driven System To Protect Interests Of Bank Customers

RBI To Roll Out AI-driven System To Protect Interests Of Bank Customers
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Payment frauds rise by 70.64% to Rs 2,604 crore in October-March period

The volume of frauds also rose to 15.51 lakh during the March 2024 period from 11.5 lakh in the previous six-month period, RBI data shows.

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Parliamentary panel recommendations to curb digital payment fraud

Parliamentary panel recommendations to curb digital payment fraud
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2,623 wilful defaulters owe Rs 1.96 lakh crore to banks

According to information provided by the Reserve Bank of India (RBI), 2,623 unique borrowers who are classified as wilful defaulters. These borrowers have a total outstanding debt of Rs 1,96,049 crore with scheduled commercial banks as of March 2023. The data pertains to borrowers with aggregate exposures of Rs 5 crore and above.

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