On Tuesday, the Supreme Court directed the RBI to issue SOPs
GS3Economy · S&T · Environment · Security· Cyber security· Prelims + Mains·
Why in news
The Supreme Court directed the RBI and State governments to establish SOPs, coordination centres, and compensation frameworks to combat 'digital arrest' and cyber-enabled financial frauds.
Background
The Supreme Court bench (CJI Surya Kant and others) ordered the RBI to issue SOPs for temporary debit holds on fraudulent accounts within four weeks. It also mandated the creation of State Cyber Crime Coordination Centres and the implementation of e-Zero FIR mechanisms.
Facts for Prelims
- BodyRBI: The central bank of India responsible for monetary policy and banking regulation.
- BodyI4C: Indian Cyber Crime Coordination Centre, a nodal agency for cybercrime management.
- Facte-Zero FIR: A mechanism allowing victims to file a first information report (FIR) online regardless of the location of the crime.
- PostCJI: Chief Justice of India, the highest judicial office in the country.
For Mains
Q. Discuss the challenges in curbing cyber-enabled financial frauds in India and suggest measures to strengthen the legal and institutional framework for victim protection.
Dimensions to cover in your answer
- technological gaps
- inter-state coordination
- victim compensation models
- public awareness
Keywords: cyber-enabled fraud · digital arrest · SOP · grievance redressal · e-Zero FIR
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This note is generated automatically from SatyaDheesh's news feed and mapped to the UPSC CSE syllabus. Check facts against the original report or PIB before using them in an answer.