RBI Tightens Rules on Unauthorised Electronic Banking Fraud

26 Mar 2026 CW Team

Indian Digital Payment Intelligence Corporation (IDPIC) was incorporated as a section eight company on 16 October 2025 to detect, prevent and analyse fraud in the expanding digital payments ecosystem in real time by leveraging artificial intelligence, machine learning and big data analytics. The central bank has also deployed an AI and machine learning based mule detection solution called MuleHunter.AI which is live in 26 banks and will be scaled further. Regulators have issued advisories requiring banks to strengthen systems and controls to prevent diversion and layering of funds through mule accounts.

Banks have been advised to adopt robust software for real time transaction monitoring and to employ AI and ML tools to detect suspicious patterns, as well as to use network analytics to identify mule networks. The Centre for Financial Literacy project has established 2,421 centres up to 31 March 2025, with one centre covering three blocks, to advance community led financial education. Annual Financial Literacy Week has been conducted since 2016 to propagate safe banking practices among citizens.

RBI has mounted a multi-media and multilingual public awareness campaign titled RBI Kehta Hai to promote safe banking practices, and securities market regulator SEBI runs an ongoing fraud awareness campaign and has launched the Saarthi mobile app to provide educational resources and investment information. The ministry and regulators continue to coordinate to curb cyber enabled fraud and to protect vulnerable groups, including senior citizens. The information was provided to parliament by the minister of state in the ministry of finance, Pankaj Chaudhary.

The Reserve Bank of India has revised its framework on limiting customer liability in unauthorised electronic banking transactions and has proposed a compensation mechanism for small value fraudulent transactions. The revised instructions were placed for public consultation on six March 2026 and reflect a review prompted by rapid technology adoption in banking and payments. The changes aim to balance customer protection with operational resilience. Indian Digital Payment Intelligence Corporation (IDPIC) was incorporated as a section eight company on 16 October 2025 to detect, prevent and analyse fraud in the expanding digital payments ecosystem in real time by leveraging artificial intelligence, machine learning and big data analytics. The central bank has also deployed an AI and machine learning based mule detection solution called MuleHunter.AI which is live in 26 banks and will be scaled further. Regulators have issued advisories requiring banks to strengthen systems and controls to prevent diversion and layering of funds through mule accounts. Banks have been advised to adopt robust software for real time transaction monitoring and to employ AI and ML tools to detect suspicious patterns, as well as to use network analytics to identify mule networks. The Centre for Financial Literacy project has established 2,421 centres up to 31 March 2025, with one centre covering three blocks, to advance community led financial education. Annual Financial Literacy Week has been conducted since 2016 to propagate safe banking practices among citizens. RBI has mounted a multi-media and multilingual public awareness campaign titled RBI Kehta Hai to promote safe banking practices, and securities market regulator SEBI runs an ongoing fraud awareness campaign and has launched the Saarthi mobile app to provide educational resources and investment information. The ministry and regulators continue to coordinate to curb cyber enabled fraud and to protect vulnerable groups, including senior citizens. The information was provided to parliament by the minister of state in the ministry of finance, Pankaj Chaudhary.

Infrastructure Transport

30 May 2026

Chembur Metro to Boost East Mumbai Links

MMRDA is advancing eastern Mumbai’s urban mobility network, with the upcoming Chembur Metro Station set to emerge as a key interchange and the Mumbai Monorail preparing for relaunch.Dr Sanjay Mukherjee, Metropolitan Commissioner, MMRDA, conducted a site visit to Chembur Metro Station along with Kanhuraj Bagate, Managing Director, MMMOCL. He also visited the nearby VN Purav Monorail Station to review system preparedness and ease of interconnectivity.Once operational, the interchange is expected to offer commuters across the eastern suburbs quicker access, smoother transfers and seamless conne..

Equipment

30 May 2026

Herrenknecht TBMs Drive Thane–Borivali Tunnel Progress

Herrenknecht India has supplied two of the four tunnel boring machines (TBMs) required for the 11-km Thane–Borivali Twin Tunnel Project being developed by the Mumbai Metropolitan Region Development Authority (MMRDA). The project is expected to reduce travel time between Thane and Borivali from 60–90 minutes to around 15 minutes while easing congestion across the Mumbai Metropolitan Region.The first two Single Shield TBMs, named Nayak and Arjuna, feature 13.34-m cutterhead diameters and are designed for hard-rock excavation. They will be deployed to tunnel through the challenging geological..

Resources

29 May 2026

KBL Launches Smart Skid Mounted Fire Pump Set

Kirloskar Brothers (KBL) has launched its Smart Skid Mounted Fire Pump Set, an integrated fire protection solution designed to improve operational efficiency, remote monitoring and installation flexibility. The system was inaugurated by Ms Madhuritai Misal, Hon. Minister of State for Urban Development, Government of Maharashtra.The Smart Skid Mounted Fire Pump Set is a factory-tested, pre-packaged solution that combines FM/UL-certified motor and engine pump sets with IoT-enabled remote monitoring. Designed to deliver a flow rate of 170 m³/hr at a head of 100 metres, the system aims to provide..