MUMBAI (CU)_Every year, people across the global lose billions of dollars as a result of credit card fraud and identity theft. This has become particularly widespread over the past year, as digital transactions became increasingly popular amid the COVID-19 pandemic. In order to tackle this situation, the Reserve Bank of India (RBI) has decided to enhance its guidelines non-cash transactions, with the aim of ensuring that the consumers are least susceptible to frauds, while simplifying the process and saving time.
When completing a transaction online, the merchant would give…
