Archive · 10 Jan 2026
RBI Governor Advocates Collaborative Digital Fraud Prevention
RBI Governor Sanjay Malhotra spoke at a big meeting in Mumbai.
He said that banks and financial companies should work together to stop digital frauds.
He wants everyone to understand and follow the real meaning of rules, not just tick boxes to say they followed them.
He talked about using data and advanced tools like AI to catch problems early.
The RBI wants to be a partner, not an enemy, to the banks and help them grow while keeping everything safe.
He also mentioned that the RBI has penalized some banks and other entities for not following the rules.
RBI Governor Sanjay Malhotra emphasized the importance of understanding the spirit of regulations rather than just following them mechanically.
He advocated for a collaborative approach between regulators and regulated entities to curb digital frauds and ensure consumer protection.
Malhotra highlighted the need for better use of data and analytics for continuous monitoring and early risk detection, mentioning tools like MuleHunter.AI.
He stated that enforcement actions are a last resort and are not meant to be punitive but corrective, with 134 entities penalized for non-compliance.
The RBI aims to make supervision more off-site and near real-time, using advanced tools like SupTech and AI while retaining human judgment and accountability.
- Who
- RBI Governor Sanjay Malhotra
- What
- Advocated for collaborative efforts to prevent digital frauds and imbibe the spirit of regulations
- When
- January 9, 2026
- Where
- Mumbai, at the Third Annual Global Conference of the College of Supervisors
- Why
- To ensure long-term growth, stability, and consumer protection in the financial system
- Speaker
- RBI Governor Sanjay Malhotra
- Event
- Third Annual Global Conference of the College of Supervisors
- Location
- Mumbai
- Date
- January 9, 2026
- Key Message
- Collaborative approach to prevent digital frauds and imbibe the spirit of regulations
- Focus Areas
- Digitalisation, consumer protection, collaborative approach, data analytics, SupTech, AI
- Supervisory Tools
- Training, dialogue, guidance, off-site and on-site supervision, enforcement as last resort
- RBI's Goal
- Stability, dynamism, and vibrancy in the financial sector
- Enforcement Actions
- 134 entities penalized with Rs 6.99 crore for non-compliance (June-November 2025)
- AI/ML Tool
- MuleHunter.AI for detecting mule accounts
Sources
Regulators and regulated entities are in the same team, not opposite camps, says RBI Governor Malhotra
Imbibe spirit of regulations, just don’t follow tick-box based compliance culture: RBI guv to REs
RBI governor Malhotra urges banks to collaborate to curb rising digital frauds
RBI Governor Malhotra Calls for Collaboration to Curb Digital Frauds
Can we think of insurance for frauds: RBI DG Rabi Sankar asks banks
RBI Governor stresses collaborative, customer-centric supervision in the digital age
RBI Governor calls on regulated entities to jointly develop tools to combat digital fraud
Despite all efforts, rising digital frauds a concern: M Nagaraju, DFS Secretary
RBI Eyes Zero-Fraud Payments
