TIMELY REPORTING ENSURES REFUND IN FRAUD CASES: RBI DEPUTY GOVERNOR

Face2News/Chandigarh 

The Bankers’ Club, Chandigarh, organized a Walkathon on Cyber Security Awareness at Sukhna Lake on Sunday. The walkathon was flagged off by Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India. The event witnessed enthusiastic participation from bankers across the region, who came together to spread awareness on safe banking and responsible digital practices.

In his address, Deputy Governor Shri Rajeshwar Rao emphasized that banking services, including digital platforms, are designed for public convenience and must be used responsibly. He noted that such physical initiatives, alongside RBI’s online campaigns, are highly effective in spreading awareness. He further highlighted that as per RBI guidelines, if a customer is not at fault and reports fraud immediately, their money is refunded—but vigilance and timely reporting are essential.

Shri Rao added that while counterfeit currency circulation is minimal, the public must continue to use the “look, touch, and feel” method to verify notes. With growing adoption of digital payments, reliance on cash is declining, ensuring safer and more secure transactions. He congratulated the banking fraternity for their commitment to cyber safety through such outreach campaigns.

Shri Vivek Srivastava, President of the Bankers’ Club, expressed delight at the overwhelming response, stating, “The walkathon has sent out a strong message on the importance of cyber security in our daily lives.”

The event was also attended by Executive Directors from RBI along with Shri Vinod Kumar Arya, Chief General Manager, NABARD (Haryana); Smt. Nivedita Tiwari, Chief General Manager, NABARD (Punjab); Shri Krishan Sharma, Chief General Manager, State Bank of India; Shri Lalit Taneja, General Manager, Punjab National Bank; and zonal managers of several other institutions.

The Bankers’ Club is a forum of senior bankers in Chandigarh and includes members from RBI, NABARD, SBI, PNB, ICICI Bank, HDFC Bank, and other banks represented by senior officers at the Deputy General Manager level and above.