The Reserve Bank of India (RBI) has revised instructions on limiting liability of customers in unauthorised electronic banking transactions and issued updated guidance for public consultation on six March 2026. The revised instructions introduce a compensation mechanism for small value fraudulent electronic banking transactions and reflect the rapid adoption of technology in the banking and payments systems. The consultation seeks stakeholder feedback to refine operational and consumer protection measures. The Indian Digital Payment Intelligence Corporation (IDPIC) was incorporated as a section eight company on 16 October 2025 with a mandate to detect, prevent and analyse fraud in India’s expanding digital payments ecosystem in real time by leveraging Artificial Intelligence (AI), Machine Learning (ML) and big data analytics. IDPIC will support real time intelligence sharing and analytical capabilities to assist regulators and banks. To curb the misuse of mule accounts, the RBI has deployed MuleHunter.AI, an artificial intelligence and machine learning solution for mule account detection that is live in 26 banks and is being scaled up. The central bank has issued advisories setting out specific actions for banks to strengthen systems and controls for prevention and detection of cyber enabled frauds and suspected money mules. Banks have been advised to ensure deployment of robust software for real time transaction monitoring and use of AI, ML and network analytics to detect suspicious and fraudulent transaction patterns. Several initiatives are under way to disseminate cybersecurity and financial awareness among citizens, including senior citizens. The Centre for Financial Literacy (CFL) project initiated in 2017 has established 2,421 CFLs across the country as on 31 March 2025, with one CFL covering three blocks, and Financial Literacy Week has been held annually since 2016. The RBI Kehta Hai public campaign promotes safe banking practices, while the Securities and Exchange Board of India (SEBI) runs the SEBI vs SCAM campaign and has launched the Saa?thi Mobile App to provide educational resources and investment information. The Minister of State in the Ministry of Finance provided this information in the Rajya Sabha.