Tech with behavioural analysis can prevent financial frauds, says Das
The Hindu
Technology, combined with behavioural analysis, can go a long way in analysing anomalies in consumer behaviour and help in understanding and preventing frauds, Reserve Bank of India Governor Shaktikanta Das said while speaking at the Annual conference of RBI Ombudsman in Mumbai.
Technology, combined with behavioural analysis, can go a long way in analysing anomalies in consumer behaviour and help in understanding and preventing frauds, Reserve Bank of India Governor Shaktikanta Das said while speaking at the Annual conference of RBI Ombudsman in Mumbai.
Suspicious consumer behaviour that could be monitored include transactions during odd hours, transactions against usual patterns and unauthorised beneficiary additions.
He said however that on the flip side, the utilisation of such technologies without appropriate safeguards may lead to compromise of customer data.
“The possible issues that may arise include invasion of privacy or subtle manipulations based on consumer profiling to nudge [the customer] into certain services that may not be the right fit,” he said.
“Appropriate safeguards need to be put in place in this regard,” he added.
Mr. Das said Artificial Intelligence (AI) capabilities are being utilised to complement customer service through personalised interaction, chatbots and virtual assistants tailored to specific products.
Its deployment in prevention of frauds, identity verification, vulnerability mitigation and data protection were, however, at nascent stages, he added.
Sensex rises nearly 450 points amid metal shares buying and positive global trends, with Tata Steel and Maruti among top gainers.
India and New Zealand are working to expedite Free Trade Agreement negotiations to enhance trade and investment benefits.
The rupee falls 9 paise to a record low of 90.41 against the dollar amid trade deal uncertainties and foreign fund outflows.
Mercedes-Benz India will increase vehicle prices by up to 2% in January to counter rising costs and currency pressures.
CCI is investigating if IndiGo violated competition norms amid significant flight disruptions and concerns over its dominant market position.
The Coal Controller Organisation is appointed to regulate and register proposed coal exchanges, enhancing market competition and oversight.
The rupee hits a record low amid U.S. trade stalemate and portfolio outflows, prompting potential RBI intervention.
November 2025 sees robust growth in India's auto industry, with record sales in passenger vehicles, two-wheelers, and three-wheelers.
Stock markets soar as Sensex and Nifty extend gains in early trade, driven by positive global trends and U.S. rate cuts.
Petroleum and Natural Gas Rules 2025 amended to enhance business ease, extend lease durations, and strengthen domestic exploration infrastructure.
Tata Hitachi strengthens its focus on India's construction market amid global tariffs and rupee depreciation, leveraging local growth opportunities.
Domestic household savings replace foreign institutional money, giving Indian markets stability but raising concerns about unequal participation and limited returns for new retail investors. Access asymmetry and unequal outcomes emerge as key challenges, making investor protection, lower fees, passive investing, and stronger governance crucial.
The Ministry of Petroleum and Natural Gas (MoPNG) should work closely with the Ministry of External Affairs (MEA), and other concerned government agencies, to strengthen diplomatic engagement with oil-producing countries, secure favourable investment terms and address tax and regulatory hurdles faced by public-sector enterprises (PSEs) abroad, the parliamentary committee on public undertakings (2025-26) stated in their latest report tabled Wednesday.