RBI director calls for ‘strong law’ against cyber crime
Central bank has made efforts to move the economy away from a cash-based system
An executive director at the Reserve Bank of India (RBI), G Padmanabhan, is calling for a new law to protect citizens from cyber crime as India's financial sector moves to electronic banking.
Delivering a lecture on Saturday, Padmanabhan said a strong law "would infuse institutional safeguard to a common person and increase his confidence to use technology in financial transactions".
The RBI has made efforts over several years to encourage electronic banking and electronic financial transactions
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