With the advent of technology, the life of a common man in every aspect of life has been and is witnessing mammoth change. The technology is leaving its imprints on every sphere of life be it social, political, economic, matrimonial, educational and the like. In this scenario, the impact of technology on banking industry can never be ignored. Gone are the days when people had to stand in long queues to get their ‘bank related’ works done at the branches whether to open or close the account, deposit or withdraw the money, fetch the statement etc. The banking now is at fingertips and at doorsteps, thanks the immense development in technology. It is expected that the digital banking users is set to cross whooping 3.6 billion by 2024.
Keeping in view the importance of the banking in general and digital banking in particular, Reserve Bank of India (RBI) has started an awareness campaign called RBI Kehta Hai, to educate the public about safe banking and financial practices. In the backdrop of umpteen online frauds by fraudsters reported on daily basis, the kick-starting of awareness of such a kind becomes inevitable. The RBI through various digital channels like social media platforms, SMSes, TVs, radios, newspapers etc has already geared up to target the people and acquaint them with the latest knowledge of the bank related products and safe banking practices. Concomitantly, the regulator has made it mandatory and impressed upon all the Banks/Financial Institutions to move on and disseminate the information through various workshops, seminars, digital platforms etc so that common people gets empowered. Besides making the common people aware about the consumer rights, the campaign assumes great importance in the backdrop of growing incidences of cyber-frauds in banking across the country.
RBI has already displayed their various aspects of ‘RBI Kehta Hai: Jaankar Baniye, Satark Rahiye’ campaign on their official website aimed at acquainting the people with different facets of banking etc. For example, one can easily fathom that opening an account with zero balance is a possibility through BSBD (Basic Savings Bank Deposit) account for which mere Aadhaar Card and Pan or Form 60 will do. For such an account, basic banking facilities like ATM-cum-Debit card is offered free of charge as well.
Similarly, in the wake of fraudulent transactions, the RBI informs the account holders to immediately report to your bank to avert any loss. “The longer you take to notify the bank, the higher will be the risk of loss”, warns RBI. “When you notify the bank of a fraudulent transaction, ask for an acknowledgment. The bank should resolve your complaint within 90 days from the date of its receipt”, RBI further informs.
As the reports of emptying of the accounts by the online fraudsters are reported on daily basis (I mean cyber frauds), the RBI warns that the people MUST NOT get cheated through phone calls, SMSes, emails etc where the target persons are lured for promising of large sums of money. “Don’t send money as initial deposit, commission or transfer fee to anyone to receive large sums of money from known or unknown organizations”, RBI warns. “Don’t reveal your bank account details, internet banking user ID, password, credit or debit card number, CVV, ATM PIN or OTP to anyone. RBI or your bank will never ask for these. You can lodge a complaint with local police, cyber-crime authorities or on [email protected], RBI further stipulates.
Have you ever imagined that a visually impaired person can identify the denomination of a currency note? Yes. It is quite impossible now with an app called MANI App launched by RBI. MANI App empowers the visually impaired persons identifies denominations of Mahatma Gandhi Series and Mahatma Gandhi (New) series banknotes Identification by audio notification in Hindi and English and vibration mode After downloading, internet is not required and works in offline mode Available on both Android Play Store and iOS App Store without any charges/payment.
Need of the hour is that we must exercise utmost caution while dealing with our bank account(s), pressing unwanted URLs, responding to SMSes or emails etc. Phishing, vishing, smishing and other tactics of online fraudsters are all aimed to loot financially.
(Author works in J&K Bank as an Assistant Manager & is presently posted at Corporate Headquarters Srinagar. [email protected]
