Chief Secretary, Atal Dulloo today emphasised the need for robust technology-driven solutions, strengthened enforcement mechanisms and real-time coordination among regulators and law enforcement agencies to effectively curb cyber frauds and online financial scams.
Chairing the 36th Union Territory Level Coordination Committee (UTLCC) meeting, convened by the Reserve Bank of India (RBI), Jammu, the Chief Secretary asserted that comprehensive technological interventions, coupled with stringent legal action, are imperative to safeguard the public from the menace of cyber-enabled financial frauds.
The UTLCC is a statutory coordination forum constituted by the Ministry of Finance to ensure close cooperation among regulators and enforcement agencies, curb unauthorised deposit-taking and other unregulated financial activities, and facilitate sharing of market intelligence.
The meeting was attended by the Regional Director, RBI, Jammu; Principal Secretary, Home Department; IGP Crime; Commissioner Secretary, Law; Director, Information; Director, Industries, Jammu, and other senior officers.
Senior officials including GM, RBI; Registrar of Cooperatives; Market Intelligence Unit, RBI, along with representatives of SEBI and ICAI, also participated.
Taking serious note of instances of cyber fraud and online cheating reported in the UT, the Chief Secretary directed that the strictest possible action be taken against offenders under the relevant provisions of the Banning of Unregulated Deposit Schemes (BUDS) Act, which has now been operationalised in Jammu and Kashmir.
He called upon the RBI and law enforcement agencies to clearly define and streamline cyber regulatory protocols for swift and effective enforcement. Stressing on public awareness, the Chief Secretary directed the Department of Information and Public Relations (DIPR), J&K, to publish awareness campaigns in local newspapers and across official social media platforms, in coordination with RBI Jammu, particularly highlighting the importance of investing only in RBI-authorised and white listed entities.
The Chief Secretary further urged regulatory authorities, including the Registrar of Companies (RoC), to proactively share details of unregistered and suspicious entities with law enforcement agencies to enable timely action against repeat offenders. He also underscored the need for capacity building and sensitisation of police and defence personnel to effectively deal with financial frauds and cyber crimes.
Highlighting financial safety initiatives, Atal Dulloo stressed the importance of the Unified Lending Interface (ULI) introduced by RBI to make lending and investment processes safer and more transparent. He also called for onboarding J&K Bank on enhanced RBI safety and cyber security parameters to further strengthen the digital payments ecosystem in the UT.
The Chief Secretary reiterated the need for firm action against fraudulent mobile applications, websites, Nidhi companies and other unregistered or unregulated entities involved in duping the people of Jammu and Kashmir.
Earlier, Chandrashekhar Azad, Regional Director, RBI, Jammu & Kashmir and Ladakh, apprised the meeting of various initiatives undertaken by the Reserve Bank of India to curb cyber frauds and financial crimes. He stressed the importance of a collaborative and coordinated approach among regulators, enforcement agencies and other stakeholders.
He highlighted the launch of exclusive internet domains ‘bank.in’ for banks and ‘fin.in’ for NBFCs to prevent the creation of deceptive websites impersonating financial institutions. He also informed that, as per RBI guidelines, regulated entities are using verified customer care numbers published on the Sanchar Saathi portal, with ‘1600xx’ series for service calls and ‘140xx’ series for promotional calls, to curb fraudulent communication.
The meeting was further apprisedabout the Digital Payments Intelligence Platform (DPIP) being developed by RBI as a national-level, real-time fraud intelligence-sharing system connecting banks, payment service providers, regulators and law enforcement agencies. Moreover it was divulged that a Mule Hunter AI, a system-wide platform to identify and flag mule accounts used for illegal fund transfers, has already been implemented in 23 banks.
Addressing the growing menace of fake digital lending applications, it was given out that RBI has operationalised a Digital Lending Apps (DLA) directory on its website, listing only those apps deployed by RBI-regulated entities. The revised Digital Lending Directions issued in May 2025, which lay down strict norms on recovery practices, data privacy and grievance redressal was also highlighted during this meeting.
It was further revealed that RBI has significantly enhanced its financial awareness initiatives, including conducting 67 awareness programmes across districts in 2025, intensified outreach under the “RBI Kehta Hai” campaign, and dissemination of fraud alerts and safe financial practices through various government departments.