Finclusion
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog
No Result
View All Result
Paytm
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog
No Result
View All Result
Finclusion
No Result
View All Result
By integrating this indicator, banks and payment platforms will be able to identify risky mobile numbers in real time. (Image source: @UPI_NPCI)

By integrating this indicator, banks and payment platforms will be able to identify risky mobile numbers in real time. (Image source: @UPI_NPCI)

RBI Advises Banks to Adopt DoT’s Fraud Risk Indicator to Curb Cyber Fraud

July 3, 2025
in Banking, Fintech
397 25
0
Share on FacebookShare on Twitter

In a major step towards strengthening cybersecurity in banking, the Reserve Bank of India (RBI) has directed all Scheduled Commercial Banks, Small Finance Banks, Payments Banks, and Co-operative Banks to integrate the Financial Fraud Risk Indicator (FRI) developed by the Department of Telecommunications (DoT). The advisory marks a significant move in India’s efforts to prevent digital financial fraud.

The FRI, launched in May 2025 by the DoT’s Digital Intelligence Unit (DIU), is a system that classifies mobile numbers based on their risk of being involved in financial fraud. Each number is rated as Medium, High, or Very High risk, based on data gathered from platforms like the National Cybercrime Reporting Portal (NCRP), the DoT’s Chakshu platform, and intelligence shared by banks and financial institutions.

You might also like

President Diaz-Canel expressed Cuba’s keen interest in India’s Unified Payments Interface (UPI) and its wider Digital Public Infrastructure (DPI). (Image Source: PM Narendra Modi on X)

BRICS Summit 2025: Cuba Shows Interest in India’s UPI as PM Narendra Modi, President Diaz-Canel Meet

July 7, 2025
RBI has appointed Kesavan Ramachandran as Executive Director (ED), effective from July 1, 2025.

RBI Appoints Kesavan Ramachandran as Executive Director

July 2, 2025

By integrating this indicator, banks and payment platforms will be able to identify risky mobile numbers in real time. This will allow them to take action such as issuing warnings, delaying or blocking transactions, and notifying customers of possible threats. The goal is to stop fraud before it happens by using clear risk signals linked to mobile numbers.

Several leading institutions—including HDFC Bank, ICICI Bank, Punjab National Bank, PhonePe, Paytm, and India Post Payments Bank—are already using the FRI to screen for suspicious activity. These early adopters have shown how the system can help reduce fraud risk, especially with the growing use of UPI (Unified Payments Interface) for everyday transactions.

The FRI also links to the Mobile Number Revocation List (MNRL), which includes numbers disconnected due to suspected cybercrime, misuse, or failed verification. Sharing this list helps banks and digital platforms avoid high-risk numbers when verifying customer identity or processing payments.

The integration of FRI is made possible through API-based systems that allow automated, real-time data sharing between the banks and the DoT’s platforms. This setup ensures quick action and ongoing updates to make fraud detection faster and more accurate.

The DoT has committed to continue working with RBI-regulated institutions to improve digital safety. This partnership aims to build trust, protect users, and support India’s Digital India goals by making online financial systems safer for everyone. As more banks and financial companies adopt FRI, it is expected to become a key tool in defending against cyber fraud across the country.

Tags: Bankcyber frauddigital financial fraudfinancial fraudFintechFraud risk indicatorpaytmrbiReserve Bank of India

Related Stories

President Diaz-Canel expressed Cuba’s keen interest in India’s Unified Payments Interface (UPI) and its wider Digital Public Infrastructure (DPI). (Image Source: PM Narendra Modi on X)

BRICS Summit 2025: Cuba Shows Interest in India’s UPI as PM Narendra Modi, President Diaz-Canel Meet

by Finclusion
July 7, 2025
0

On the sidelines of the 17th BRICS Summit in Rio de Janeiro, Prime Minister Narendra Modi held talks with President...

RBI has appointed Kesavan Ramachandran as Executive Director (ED), effective from July 1, 2025.

RBI Appoints Kesavan Ramachandran as Executive Director

by Finclusion
July 2, 2025
0

The Reserve Bank of India (RBI) has appointed Kesavan Ramachandran as Executive Director (ED), effective from July 1, 2025. The...

June's daily average was equally impressive, with 613 million transactions per day and a daily average value of ₹80,131 crore. (Image source: Freepik)

India’s UPI Crosses 18.4 Billion Transactions in June 2025

by Finclusion
July 1, 2025
0

India’s digital payment ecosystem continues to grow rapidly with UPI (Unified Payments Interface) recording 18.40 billion transactions worth ₹24.04 lakh...

During her visit to Seville, Spain, the Finance Minister will address the 4th International Conference on Financing for Development (FFD4) organised by the United Nations. (Image source: PIB)

Finance Minister Nirmala Sitharaman to Address 4th International Conference on Financing for Development organised by United Nations

by Finclusion
June 30, 2025
0

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman has begun an official visit to Spain, Portugal, and Brazil from...

Next Post
President Diaz-Canel expressed Cuba’s keen interest in India’s Unified Payments Interface (UPI) and its wider Digital Public Infrastructure (DPI). (Image Source: PM Narendra Modi on X)

BRICS Summit 2025: Cuba Shows Interest in India’s UPI as PM Narendra Modi, President Diaz-Canel Meet

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finclusion

© 2024 Finclusion

Quick Links

  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog

© 2024 Finclusion

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version