Centre Says Looking Into Fraudulent Transactions Below Rs 1 Lakh With RBI

The government is working with the Reserve Bank (RBI) to look into cases of financial frauds involving amounts which are below Rs 1 lakh, IT (information technology) Minister Ravi Shankar Prasad said in the Rajya Sabha on Friday. A Financial Data Protection bill has been drafted that aims to address issues related to data theft, including from social networking websites, he also told the House. Presently, the RBI along with banks is ...