RBI Kehta Hai: Watch Reserve Bank’s innovative rap video warning against banking frauds – Moneycontrol

As part of the Public Awareness initiative by the RBI, its Twitter and Facebook page called ‘RBI says’ usually puts out pictures and messages in multiple Indian languages.

The Reserve Bank of India (RBI) has found a new approach to warn the public of growing bank-related frauds– using a rap song shared on the central bank’s social media.

As part of the Public Awareness initiative by the RBI, its Twitter and Facebook page called ‘RBI says’ usually puts out pictures and messages in multiple Indian languages asking the public to be cautious of the fraudulent people while performing banking transactions.

According to the Annual RBI report, the total value of bank frauds was more than double in 2019-20. A total of 8,707 bank frauds involving a total of over Rs 1.85 lakh crore were detected against 6,799 cases involving Rs 71,543 crore in the previous year, the central bank had said.

The report considered frauds involving Rs 1 lakh and above, reported by banks and financial institutions (FIs) during 2019-20 increased by 159 percent (in terms of value).

The central bank has also issued Master Direction laying down guidelines for internet banking, mobile payments, card payments, customer protection and grievance redressal mechanism.

In the video, the singer asks the public to not share One Time Passwords (OTP), PIN and account details and to stay vigilant of fraudulent callers.

“RBI Kehta Hai.. (RBI says) A little caution takes care of a lot of trouble. Never respond to requests to share PIN, OTP or bank account details. Block your card if stolen, lost or compromised,” the central bank wrote posting the rap video.

Check it out!

Smriti Chaudhary

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