Day by day complaints regarding digital payment are increasing. The easier this process of payment is, the more the number of frauds that result from it. In the last one 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 payment, the more errors are being found in it. The Reserve Bank of India (RBI) has observed a 9.39 per cent 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 per cent in 2021-22 from 96.59 per cent in 2020-21.
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 which can be used for payments through UPI, NEFT, RTGS, IMPS, Debit/Credit cards etc.
