In a bid to check frauds, the RBI has been taking several steps including improving efficacy of Early Warning System (EWS) framework, strengthening fraud governance and response system, augmenting data analysis for monitoring of transactions and introduction of dedicated Market Intelligence (MI) Unit for frauds.
source https://economictimes.indiatimes.com/industry/banking/finance/banking/banking-frauds-of-over-rs-100-cr-see-significant-decline-in-fy22/articleshow/92629429.cms
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