RBI increases payments surveillance during elections

Indian central bank tells system operators to watch for suspicious transactions, report says

Indian banknotes

The Reserve Bank of India (RBI) has instructed payment system operators to track potentially suspicious transactions amid ongoing elections, a business newspaper has reported.

“In a letter dated April 15, the RBI asked payment system operators to prevent any potential misuse of electronic fund transfer mechanisms to influence voters or indirectly fund poll candidates,”  the Economic Times reported today (April 22). The newspaper said it had seen a copy of the letter. Central Banking has

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