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Digital Payment Fraud: Banks Collaborate with RBI to Develop Intelligence Platform

In an effort to combat the rising wave of digital payment frauds, major public and private sector banks are working together with the Reserve Bank of India (RBI) to develop a Digital Payment Intelligence Platform (DPIP). This new Digital Public Infrastructure aims to enhance fraud risk management by enabling real-time intelligence sharing and data analysis to detect and prevent fraudulent digital transactions.

According to the news agency PTI, the proposed platform will facilitate the sharing of real-time intelligence and data analysis to identify and prevent fraudulent digital transactions. The RBI-led initiative is a top priority and is expected to go live in the coming months. The Reserve Bank Innovation Hub (RBIH) has been tasked with building a prototype of DPIP in consultation with 5-10 banks.

Sources have emphasized that "fraud is a common monster," highlighting the need for both public and private banks to collaborate on developing the platform. A high-level meeting was recently held to finalize the institutional structure, with participation from senior bank executives and RBI officials.

The platform comes in response to a sharp spike in fraud cases. As per the RBI’s latest annual report, bank frauds jumped nearly threefold to Rs 36,014 crore in FY25, compared to Rs 12,230 crore a year ago. Public sector banks reported Rs 25,667 crore worth of frauds, up from Rs 9,254 crore in FY24. While card and internet payment frauds dominated in the private sector, public sector banks faced large-scale fraud in their loan portfolios.

Recently, Airtel approached over 40 banks, RBI, and NPCI, proposing collaboration to create a repository of known fraudulent domains to enable proactive blocking of rogue sites. The telecom major also highlighted risks posed by OTT messaging platforms, calling them the weakest link in fraud prevention due to lack of regulatory oversight.

Airtel Vice Chairman and MD Gopal Vittal proposed "closer collaboration to create a repository of known fraudulent financial domains" and favored joint public awareness campaigns and technical cooperation to counter online scams. The telco’s proposal received positive responses from banks and the NPCI, sources said. Airtel has also sought to join forces with Jio and Vodafone Idea to initiate a joint industry-level defense against telecom-based scams.

In the first nine months of 2024 alone, India reported over 1.7 million cybercrime complaints, resulting in losses exceeding Rs 11,000 crore. These figures underscore the urgency of building a coordinated, tech-driven ecosystem like DPIP to shield consumers and financial systems from the growing digital threat.

Published On Jun 23, 2025 at 09:30 AM IST

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