RBI Deputy Governor Reports Rise in Digital Frauds Since July

Reserve Bank of India Deputy Governor T Rabi Sankar revealed on Friday that the rate of digital payment frauds has been increasing since July 2025, reversing a downward trend seen earlier in the year. Speaking at an event, Sankar highlighted the vulnerability of banks' monolithic IT systems compared to nimble fintechs. He stated the RBI is investigating the reasons for the spike and is deploying new infrastructure to track and combat accounts used to channel money from fraudulent activities.