Central Banking

Online banking poses challenges: RBI’s Padmanabhan

A padlock on a number of credit cards

At the Annual Conference on Secure Banking in Mumbai on Friday, G Padmanabhan, who became executive director of the IT, payment and settlement systems and foreign exchange departments at the Reserve Bank of India this month, spoke about online banking.

"In the IT-enabled banking environment, it has to be recognised that fraud possibilities have assumed international dimensions," he said of the growing security fears.

"Ranging from password hacking, card copying [and] cloning to data and identity

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