New Delhi. Digital payment has increased rapidly in India, but with it the cases of fraud have also increased rapidly. According to Reserve Bank of India data, digital frauds worth Rs 36,014 crore occurred in 2024, whereas a year ago this figure was Rs 12,230 crore. Now two big banks of the country are preparing new AI based systems to prevent frauds during online payments. Through this, suspicious transactions can be easily identified and stopped immediately. SBI and Bank of Baroda have started this initiative, in which other government banks will also participate.

It is being told that this system has been named ‘Indian Digital Payment Intelligence Corporation’. This system will detect online banking fraud in real time using AI and machine learning and stop it immediately. SBI and Bank of Baroda have agreed to initially invest Rs 10 crore each in preparing this system. Other big 12 government banks of the country will also participate in this initiative. It has been sent to the Ministry of Corporate Affairs for approval.

RBI is also making such a platform
A few days ago, the Deputy Governor of RBI had told that the Reserve Bank is creating a digital payment intelligence platform, which will train the AI ​​​​system by connecting different sources like mule account, telecom data, location data etc., so that fraud can be detected immediately.

Banks are currently using this technology
Currently banks are using RBI’s MuleHunter AI technology, which detects mule accounts. These are such accounts which criminals use to launder money or hide fraud. This system has already been adopted by Canara Bank, Punjab National Bank, Bank of India, Bank of Baroda and AU Small Finance Bank.