Financial Literacy & Safe Banking
How to identify and avoid digital frauds
How to identify and avoid digital frauds Digital frauds, such as UPI, SMS, and WhatsApp scams, are a growing concern. Here are some key points to help identify and avoid them, especially in a rural context: Be cautious of unsolicited requests: Never share your UPI PIN, OTP, or debit card details with anyone over the phone, SMS, or WhatsApp. Verify the sender: Before clicking on any link, check the sender’s details. Fraudsters often use fake accounts or numbers that look similar to official bank accounts. Beware of “winning” messages: Do not respond to messages or calls that claim you have won a lottery or a prize, as these are almost always scams. Use secure apps: Only download banking and UPI apps from official app stores (Google Play Store or Apple App Store).
Safe practices for using ATMs and Debit Cards
Using ATMs and debit cards securely is crucial for protecting your finances. Follow these simple practices: Guard your PIN: Never share your PIN with anyone. When entering it at an ATM or a POS machine, cover the keypad with your hand to prevent others from seeing it. Check the machine: Before using an ATM, check for any suspicious devices attached to the card slot or keypad, as these could be skimmers or hidden cameras. Be aware of your surroundings: Be cautious of strangers offering to help you at an ATM. Secure your card: After withdrawing cash, make sure to collect your debit card and the transaction receipt before leaving the ATM kiosk. Regularly monitor your account: Check your account statements and transaction alerts regularly to spot any unauthorized activity.
Banking Ombudsman & Grievance Redressal
The Banking Ombudsman is a senior official appointed by the Reserve Bank of India (RBI) to resolve customer complaints against banks and other financial institutions. The service is free and provides a speedy and effective way to address grievances. What to do if you have a complaint: First, you must contact your bank and register a formal complaint through their internal grievance redressal system. When to approach the Ombudsman: If the bank does not reply to your complaint within 30 days, or if you are not satisfied with their resolution, you can then approach the Banking Ombudsman. How to file a complaint: You can file a complaint with the Banking Ombudsman online, by post, or by email. The complaint must be in writing and contain all necessary details, including the bank’s response. Grievance Redressal: The Ombudsman will mediate between you and the bank to reach a fair settlement. If a settlement cannot be reached, the Ombudsman can pass an award that is binding on the bank.