RBI Fears Cyber Attack On Prepaid Payment Instruments, Asks Issuers To Conduct Security Audit

Mumbai: The Reserve Bank of India on Friday asked banks and companies issuing Prepaid Payment Instruments (PPI) to conduct a special security audit saying any cyber attack could prove dampener at a time when the government is nudging people to go in for digital transactions in a big way. With the withdrawal of legal tender characteristics of old Rs 500 and Rs 1,000 notes (Specified Bank Notes or SBN), the use of alternate modes of p...