After the RBI monetary policy meeting, Governor Sanjay Malhotra informed in a press conference that the central bank will always work to provide correct services to the customers. Keeping in mind the safety of customers, efforts are also being made to reduce the cases of fake calls and cyber fraud.

RBI will remain in action

After the meeting, RBI Deputy Governor Swaminathan also said that RBI will strictly monitor the operations of banks. He said that banks cannot sell their products like insurance and loans by giving wrong information.

Strict action will be taken against banks if such cases come to light. Even now, the central bank takes action from time to time on this matter.

Fraud will be curbed.

RBI Deputy Governor Swaminathan said about the increasing online fraud that RBI runs many types of campaigns to make people aware and protect them from such cases. Awareness is being constantly spread about the ways in which people commit fraud with people and how to avoid them.

It is important for the government and the public to cooperate together to save customers from fake calls and fraud-related cases. Only then can such cases be controlled.

Curb on financial fraud

RBI has also announced to change the domain of all banks so that fraud can be stopped. It will become easier for customers to identify real and fake domains. This initiative will be started in the month of April.