NEW DELHI, July 3:  In a major step to combat cyber-enabled financial frauds, the Reserve Bank of India (RBI) has mandated all Scheduled Commercial Banks, Small Finance Banks, Payments Banks, and Co-operative Banks to integrate the Financial Fraud Risk Indicator (FRI) developed by the Department of Telecommunications (DoT). The advisory, issued on June […]

Amid the growing spate of cyber crimes, the RBI has directed banks and payments banks to integrate DoT's financial FRI into their systems.