{"id":46250,"date":"2025-06-25T21:22:26","date_gmt":"2025-06-25T15:52:26","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=46250"},"modified":"2025-06-25T21:22:43","modified_gmt":"2025-06-25T15:52:43","slug":"dpip-rbi-banks","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/25-06-2025\/dpip-rbi-banks","title":{"rendered":"RBI and Banks to Launch Digital Payment Intelligence Platform (DPIP)"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/Economy<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>In News<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Major public and private sector banks are collaborating to develop the <strong>Digital Payment Intelligence Platform (DPIP) <\/strong>as a Digital Public Infrastructure (DPI) under the guidance of the Reserve Bank of India (RBI).<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#ebecf0\"><tbody><tr><td><strong>Do you know?<\/strong><br>&#8211; <a href=\"https:\/\/www.nextias.com\/ca\/wp-content\/uploads\/2024\/05\/Daily-Editorial-Analysis-08-05-2024.pdf\"><strong>Digital Public Infrastructure (DPI<\/strong><\/a><strong>)<\/strong> refers to foundational digital systems that are accessible, secure, and interoperable, supporting essential public services.\u00a0<br>&#8211; In India, <strong>DPI has been instrumental in transforming the digital economy<\/strong>, much like traditional infrastructure for industrial growth.\u00a0<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Digital Payment Intelligence Platform (DPIP)<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It aims to strengthen fraud risk management by enabling real-time data sharing and intelligence gathering to detect and prevent fraudulent digital transactions.<\/li>\n\n\n\n<li>The institutional framework is being jointly developed by public and private banks, recognizing fraud as a shared threat.<\/li>\n\n\n\n<li>The Reserve Bank Innovation Hub (RBIH) is building a prototype in collaboration with 5\u201310 banks using advanced technologies.<\/li>\n\n\n\n<li>The platform is expected to become operational in the next few months.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Need and Purpose\u00a0<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cybercrime, particularly digital financial fraud, is a growing threat in India, affecting millions and causing massive financial losses.<\/li>\n\n\n\n<li>RBI\u2019s FY25 report highlights a threefold rise in bank frauds to \u20b936,014 crore from \u20b912,230 crore in FY24.\n<ul class=\"wp-block-list\">\n<li>Public sector banks reported \u20b925,667 crore in frauds (mainly in loans\/advances).<\/li>\n\n\n\n<li>Private sector banks saw the highest number of frauds in digital payments (card\/internet).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The DPIP is thus a proactive step <strong>to secure India&#8217;s growing digital financial ecosystem.<\/strong>\n<ul class=\"wp-block-list\">\n<li>It will tackle the<strong> rising digital payment frauds<\/strong> and aims to <strong>enhance fraud detection and prevention<\/strong> through real-time data sharing and intelligence gathering.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Challenges\u00a0<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Fraudsters typically exploit victims through impersonation, phishing for banking credentials, or stealing card details, and then launder the stolen money through multiple accounts to evade detection.\u00a0<\/li>\n\n\n\n<li>Investigations face major challenges such as delayed reporting, victims erasing evidence, and slow, unstructured data sharing from financial institutions.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Other related steps<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Government, along with financial regulators like RBI and NPCI, is actively strengthening cybersecurity to combat digital financial frauds.<\/li>\n\n\n\n<li>The Ministry of Home Affairs (MHA) established the <strong>Indian Cyber Crime Coordination Centre (I4C) and launched the National Cyber Crime<\/strong> Reporting Portal to enable public reporting of cybercrimes, routing cases to respective law enforcement agencies.\u00a0<\/li>\n\n\n\n<li>The <strong>\u2018Citizen Financial Cyber Fraud Reporting and Management System<\/strong>\u2019 has helped save around Rs. 4386 crore from 13.36 lakh complaints.\u00a0<\/li>\n\n\n\n<li>RBI has issued guidelines mandating security controls for digital payments and introduced an AI tool<strong>, \u2018MuleHunter,\u2019 to detect money mules.\u00a0<\/strong><\/li>\n\n\n\n<li>NPCI has implemented security measures like device binding, two-factor authentication, transaction limits, and AI-based fraud monitoring for UPI transactions.\u00a0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Suggestions and way forward\u00a0<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Financial fraud in India requires a combined effort involving technology, regulatory reforms, faster data sharing, and public awareness.\u00a0<\/li>\n\n\n\n<li>Cooperation among banks, fintech companies, law enforcement, and consumers is essential to protect the digital financial system and build a secure, trustworthy environment.\n<ul class=\"wp-block-list\">\n<li>\u00a0Key prevention measures include multi-device login alerts, disabling screen-sharing on banking apps, and mandating clear, detailed bank statements.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Source :TH<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<h3><strong>In News<\/strong><\/h3>\n<li class=\"ms-5\">Major public and private sector banks are collaborating to develop the Digital Payment Intelligence Platform (DPIP) as a Digital Public Infrastructure (DPI) under the guidance of the Reserve Bank of India (RBI).<\/li>\n<p><\/p>\n<h3><strong>Digital Payment Intelligence Platform (DPIP)<\/strong><\/h3>\n<li class=\"ms-5\">It aims to strengthen fraud risk management by enabling real-time data sharing and intelligence gathering to detect and prevent fraudulent digital transactions.<\/li>\n<li class=\"ms-5\">The institutional framework is being jointly developed by public and private banks, recognizing fraud as a shared threat.<\/li>\n<li class=\"ms-5\">The Reserve Bank Innovation Hub (RBIH) is building a prototype in collaboration with 5\u201310 banks using advanced technologies.<\/li>\n<li class=\"ms-5\">The platform is expected to become operational in the next few months.<\/li>\n<p><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/25-06-2025\/dpip-rbi-banks\" class=\"btn btn-primary btn-sm float-end\">Read\u00a0More<\/a><\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-46250","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/46250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=46250"}],"version-history":[{"count":2,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/46250\/revisions"}],"predecessor-version":[{"id":46265,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/46250\/revisions\/46265"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=46250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=46250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=46250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}