Day by day complaints regarding digital payment is increasing. The easier this process of payment is, the more the number of frauds that result from it. In the last year, RBI has registered about four lakh complaints related to this.
If you also use digital methods for payment, then you need to be a little careful. The easier digital payment makes the payment, the more errors are found in it. The Reserve Bank of India (RBI) has observed a 9.39 percent increase in the volume of complaints with various digital payment methods from April 1, 2021, to March 31, 2022. Under the Ombudsman Schemes or Consumer Education and Protection Cell, 4,18,184 complaints have been received in a year.
The figures are scary
Talking about digital payment complaints, 149,419 complaints were registered in 2021, of which the Centralized Receipt and Processing Center (CRPC) disposed of 143,552 by the end of March 31, 2022. The disposal rate of complaints by RBIOS increased to 97.97 percent in 2021-22 from 96.59 percent in 2020-21.
The highest transaction happened in July
For information, let us tell you that the maximum number of UPI transactions took place in July 2022. According to the National Payments Corporation of India (NPCI) report, in July last year, the UPI transactions crossed 6 billion i.e. 600 crores, which is a record level. However, after the increase in its use, the number of frauds has also increased.
Digital Rupee has also started
RBI has introduced Digital Rupee as a form of digital payment only last year. This Central Bank Digital Currency has been brought in the form of CBDC-W (wholesale) and CBDC-R (retail). It is a kind of digital currency that can be used for payments through UPI, NEFT, RTGS, IMPS, Debit/Credit cards, etc.
