RBI Speeds Up IDPIC Rollout To Combat Digital Payment Frauds, Pilot Running With 8 Banks

The Reserve Bank of India (RBI) is moving quickly to launch the India Digital Payment Intelligence Corporation (IDPIC). The platform is already in a pilot phase with eight banks, Deputy Governor Shirish Chandra Murmu said on Thursday.

While speaking to IANS on the fringe of an event in Mumbai, Murmu noted that the platform is already active across eight banks. Steps are being taken to broaden its use.

“It is already in pilot mode with eight banks. We are working to speed up its rollout,” Murmu remarked.

IDPIC was set up to provide a system for real‑time sharing of fraud intelligence and alerts among banks and financial institutions. It will leverage technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Big Data Analytics to detect and block digital payment fraud.

This effort forms part of broader government and RBI initiatives to boost cybersecurity in India’s fast‑growing digital payments landscape. The central bank is also implementing steps to spot and stop the abuse of banking channels and mule accounts in cyber‑crime.

In addition, the RBI has introduced its AI‑driven MuleHunter.AI tool to spot mule accounts. The government says the system was live in 26 banks by March 2026 and is being rolled out more widely.

The focus on improving fraud detection is driven by the ongoing surge in digital payments nationwide, which heightens the need for quicker information exchange among financial institutions and other parties.

Murmu also pointed out that even as digital transactions grow fast, cash still holds importance as a store of value, underscoring the coexistence of digital and cash‑based payments in India’s economy.