RBI does not need your cash, don't fall prey to fishing mails: Guv

Have you even received a mail or a communication surprising you about you have won a lottery of Rs. 50 lakhs or any such large sum of money that may excite you-and then to complete the message, the sender will provide you with a specific bank detail where you need to deposit the transaction fees in case you would like the winnings to be deposited in your account. Chances are you may have received such teaser e-mails in your mailbox. 

Now none other than our RBI governor has taken note of it and has warned public to be aware of such fraudulent e-mails and messages. RBI governor Raghuram Rajan has especially warned public at large against those e-mails that claim to be from Reserve Bank of India, seeking money from public. While speaking at an event with bankers and start up executives as his audience, Dr. Rajan mentioned that RBI has $360 billion worth of foreign exchange reserves and over 8 lakh crores worth of government bonds and that RBI does not need to seek money from public by sending e-mails. Governor also claimed that India has the most sophisticated public payment infrastructure in the world accessible to anyone willing to enter the system.

Soliciting money from general public in the name of Reserve Bank has been on rise recently and Dr. Rajan confirmed that he has been getting 10 e-mails at least on a daily basis asking whether the e-mails and the offers mentioned in e-mails are genuine in nature. Dr. Rajan on Monday launched the UPI – Unified Payment Interface System under the aegis of National Payment Corporation of India (NPCI) to make monetary transactions seamless. NPCI set up with the guidance and support of Reserve Bank of India and IBA (Indian Bank’s Association), is an umbrella organisation for all retail payment system in India.