Comments
The Reserve Bank of India on Monday said the fraud reporting module - Central Payments Fraud Information Registry (CPFIR) - for reporting payment frauds by scheduled commercial banks and non-bank Prepaid Payment Instrument (PPI) issuers will be migrated to DAKSH -- RBI’s Advanced Supervisory Monitoring System from January 01, 2023.
Also read: Private sector banks continue to outpace public sector banks in credit growth
The central bank said this will streamline reporting, enhance efficiency and automate the payments fraud management process. Entities shall commence reporting of payment frauds in DAKSH from January 1, 2023.
In addition to the existing bulk upload facility to report payment frauds, DAKSH provides additional functionalities such as a maker-checker facility, online screen-based reporting, an option for requesting additional information, a facility to issue alerts/advisories, generation of dashboards and reports, etc, it added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.