RBI Building Digital Payments Intelligence Platform To Flag Real-Time Financial Frauds: Sanjay Malhotra
Artificial intelligence should be deployed as public infrastructure as AI holds potential to fundamentally enhance the next generation of digital public infrastructure, says the RBI governor.
The RBI is building an online payments intelligence platform to detect real-time financial frauds, which has been a growing concern amid India's rapid shift towards digital finance, Governor Sanjay Malhotra said on Wednesday.
The initiative is part of the Reserve Bank of India's broader effort to strengthen the country’s digital public infrastructure and enhance the safety and reliability of its fast-growing fintech ecosystem.
Speaking at the Global Fintech Fest 2025 in Mumbai, Malhotra said the RBI was working to develop a payments intelligence platform that could identify and mitigate fraudulent transactions in real time.
"Design products and services that are easy to use, accessible for all, with assistive technologies, ensuring that the vulnerable groups such as the senior citizens, individuals with limited digital literacy and the specially-abled are not left behind," he told fintech firms.
Malhotra also said that artificial intelligence should be deployed as public infrastructure as AI holds potential to fundamentally enhance the next generation of digital public infrastructure.
Reflecting on India’s digital journey, Malhotra noted that the first phase was focused on building infrastructure and broadening access to services such as savings, insurance and investments.
The next phase, he said, is about universalising this impact — deepening inclusion, leveraging data responsibly, and expanding benefits to all sections of society.
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Malhotra also revealed that the RBI has conceptualised a Unified Market Interface, a next-generation financial market infrastructure that will integrate various digital financial systems. Early trials of the interface have shown encouraging results, he said.
On the account aggregator framework, the governor said its success hinges on bringing more financial data within its fold and ensuring interoperability among aggregators.
The RBI, he added, is formulating standards for payment aggregators to strengthen customer onboarding and improve data security. The central bank is also working to enhance transparency in consent management and data sharing under the framework, a step that will make financial data access more secure and user-driven.
Malhotra praised India's vibrant fintech ecosystem, which now includes over 10,000 startups with more than $40 billion in investments over the past decade. He highlighted that India’s success in digitalisation is driven by a strong public-private synergy, supportive government policies and a deep pool of tech talent.
Malhotra urged fintech firms to innovate in credit delivery and build on the success of digital payments, noting that asset tokenisation presents new opportunities for financial markets.
The RBI, he added, has launched a sandbox for the central bank digital currency to involve private developers in exploring its potential.
He also said the fintech industry must build for inclusion, adopt a customer-first approach, innovate in credit delivery, prioritise trust and compliance, and think global while staying anchored locally.
