{
  "id": 8266348,
  "title": "RBI Speeds Up IDPIC Rollout To Combat Digital Payment Frauds, Pilot Running With 8 Banks",
  "url": "https://urgent.news/2026/09/18/rbi-speeds-up-idpic-rollout-to-combat-digital-payment-frauds-pilot",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-18T15:02:59.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/rbi-speeds-up-idpic-rollout-to-combat-digital-payment-frauds-pilot-running-with-8-banks"
  },
  "original_language": "en",
  "account": "Mumbai, Sep 18: The Reserve Bank of India (RBI) is accelerating the expansion of the India Digital Payment Intelligence Corporation (IDPIC), a platform designed to combat digital payment frauds, with eight banks currently participating in a pilot phase, stated Deputy Governor Shirish Chandra Murmu. Discussing the pilot expansion with IANS, Murmu emphasized the RBI's efforts to expedite the rollout of this system. The government and RBI have been collaborating to bolster cyber security in digital payment transactions and safeguard citizens from financial frauds through various initiatives. IDPIC, established in consultation with the RBI, aims to establish a system for real-time sharing of fraud intelligence and alerts with banks and financial institutions, utilizing advanced technologies like Artificial Intelligence (AI), Machine Learning (ML), and Big Data Analytics. Speaking on the evolving landscape of payments, Murmu clarified that while digital transactions are gaining traction, the use of cash as a transactional medium is diminishing but has not significantly declined. The RBI's Deputy Governor noted that the volume of cash held by households and individuals is influenced by economic conditions, and the growth of digital payments is reinforced by increased formalization efforts. The central bank has issued over 600 amendment and draft circulars in the past year, reclassifying regulated entities into 11 categories, leading to some circulars being applicable across multiple categories.",
  "summary": "Mumbai, Sep 18: The India Digital Payment Intelligence Corporation (IDPIC) is already operational on a pilot basis with eight banks, and the Reserve Bank of India (RBI) is working to expedite its rollout, RBI Deputy Governor Shirish Chandra Murmu said on Thursday. IDPIC pilot rollout underway Speaking to IANS on the sidelines of an event here, Murmu said, “It is already running on a pilot basis…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}