Press Releases

Reserve Bank of India has been periodically reiterating about the activities of unscrupulous elements using the name of RBI and defrauding the common public. These elements use fake letter heads of RBI, send emails impersonating as employees of RBI and lure people with fictitious offers / lottery winnings / remittance of cheap funds in foreign currency from abroad. Targeted public is made to part with money in the form of currency processing fee, foreign currency conv

It has come to the notice of the Bank that certain unscrupulous persons posing as RBI officials are sending electronic communication through fake email addresses and false letterheads, advising job aspirants to appear for tests/ interviews/ interactive sessions purportedly as a part of the recruitment exercise for appointment in the RBI. RBI clarifies that all recruitment related information, viz., advertisement, procedure for submitting application, schedule of exami

It has come to the notice of the Reserve Bank of India that a fake website of the Reserve Bank of India has been created with the URL www.indiareserveban.org by some unknown person(s). The layout of the fake website is similar to the original RBI website. The home page of the fake website also contains a provision for “Bank verification with online account holders” which appears to have been created with a fraudulent intent of obtaining personal and confidential banki

Attention of members of public is drawn to the Press Release issued by the Reserve Bank of India (RBI) on December 24, 2013, cautioning users, holders and traders of Virtual Currencies (VCs) including Bitcoins regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such VCs. Vide press release dated February 1, 2017, RBI has also clarified that it has not given any licence/authorisation

It has come to the notice of Reserve Bank of India (RBI) that some Co-operative Societies are using the word “Bank” in their names. This is a violation of Section 7 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) (the B.R.Act, 1949). It has also come to the notice of RBI that some Co-operative societies are accepting deposits from non-members / nominal members / associate members which tantamount to conducting banking business in violatio

The Reserve Bank of India – India’s central bank - will soon launch a public awareness campaign through SMSes to educate the members of the public about various banking regulations and facilities available to them. To begin with, the Reserve Bank will send messages cautioning the people against falling prey to unsolicited and fictitious offers received through emails/SMSes/phone calls. The caution messages will be sent from ‘RBISAY’ sender id. The Reserve Bank has bee

It has come to the notice of the Reserve Bank of India that some Co-operative Societies/primary co-operative credit societies are accepting deposits from non-members/nominal members / associate members. Members of the public are hereby informed that such co-operative societies have neither been issued any licence under Banking Regulation Act, 1949 (As Applicable to Cooperative Societies) nor are they authorized by the Reserve Bank of India for doing banking business.

The Reserve Bank of India has today advised the users of Pre-paid Payment Instruments (PPIs), including mobile and electronic wallets, that only non-bank entities authorised by RBI under the Payment and Settlement Systems Act, 2007 (the Act) can issue PPI wallets for purchase of goods and services from third parties and money transfer within India. Only permitted banks can issue PPI wallets which in addition to purchase of goods and services from third parties and mon

The Reserve Bank of India had cautioned the users, holders and traders of Virtual Currencies (VCs), including Bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to, vide its press release dated December 24, 2013. The Reserve Bank of India advises that it has not given any licence / authorisation to any entity / company to operate such schemes or deal with Bitcoin or any virtual

It has come to the notice of the Reserve Bank of India that an app (application) is doing rounds on WhatsApp purportedly to facilitate checking of balance in customers' bank accounts. The application has an RBI logo with the title 'All Bank Balance Enquiry No' and has listed several banks with either a mobile number or call centre number. The Reserve Bank wishes to clarify that it has not developed any such application. Members of public are, therefore, advised to use