President Warns of Financial Fraud and Cyber Threats Amid Evolving Technology

The President of India Droupadi Murmu on Tuesday (April 1st 2025) cautioned against the possibility of financial fraud risks as well as the ever-growing cyber threats in banking in the era of rapid technological advancement.

Speaking in the event marking 90 years of event of the RBI that was held in Mumbai The President of the RBI said, "This growing concern demands constant vigilance and the Reserve Bank of India (RBI) has been taking proactive measures strengthening cyber threat mitigation safeguards and ensuring a secure banking environment."

She also praised on the Central Bank for taking innovative actions to support sustainable finance.

"As the government leads the transition to a greener economy, the RBI has complemented this vision through measures such as the Green Deposit Framework, which directs first towards environmentally sustainable projects and the inclusion of green finance and priority sector lending to encourage banks to support eco-friendly initiatives," the President stated.

She added that in the last 90 years, the RBI has been closely aligned with the goals and policies of the government. This partnership has been vital in navigating the complex economic changes, implementing crucial financial reforms, and ensuring micro-economic stability.

Mrs. Murmu said the path ahead for India will bring new challenges and complexities however, she maintained her determination to stability, creativity and inclusiveness. The RBI will continue to be an important pillar of strength, strengthening confidence and guiding India toward an era of prosperity and leadership in the global arena.

In a world that is increasingly global the RBI has ensured that the financial system of India is robust in the face of any adverse global changes. It's not clear that the RBI is much more than just a central bank. It has played an important role in financial inclusion as well as institution building initiatives." the President said.

The RBI has played a crucial contribution to making India an international leading country in digital payment by constantly modernizing the country's infrastructure for cybersecurity awareness and infrastructure, she added that it has made sure that digital banking security transactions were not just seamless and efficient but also easy.