PM Modi Highlights Digital Banking Safety Guidelines
Prime Minister Narendra Modi has outlined key dos and don’ts for digital banking users, emphasising vigilance around KYC updates, re-KYC requests and one-time password (OTP) sharing amid rising instances of online financial fraud.
Addressing concerns over increasing digital transactions and related cyber risks, the Prime Minister cautioned citizens against responding to unsolicited calls, messages or links seeking KYC updates. He stressed that customers should verify any re-KYC communication directly through official bank channels rather than engaging with unknown callers or third-party agents.
Highlighting OTP safety, he advised users never to share one-time passwords, PINs, CVV numbers or other confidential banking credentials with anyone, including individuals claiming to represent banks or regulatory authorities. Fraudsters, he noted, often impersonate bank officials and exploit urgency to extract sensitive information.
The Prime Minister also encouraged users to regularly review bank statements, enable transaction alerts and promptly report suspicious activity to banks and cybercrime helplines. He reiterated that digital banking offers convenience and speed, but safe usage practices are essential to prevent financial loss.
The advisory comes at a time when digital payments, UPI transactions and mobile banking adoption continue to expand rapidly across urban and rural India. Authorities have repeatedly flagged phishing, APK-based malware and social engineering scams as major threats in the evolving digital ecosystem.
The government’s message underscores the shared responsibility between financial institutions and customers in strengthening cybersecurity awareness. By promoting digital hygiene and informed behaviour, policymakers aim to build trust in India’s growing digital banking infrastructure while safeguarding consumers against fraud.
For more structured learning, please visit our website Smart Online Course, where we offer multiple courses to help you deepen your understanding of risk management.
#Bankingnews
