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.