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

The Reserve Bank of India (RBI) is working to expedite the rollout of the India Digital Payment Intelligence Corporation (IDPIC), which is currently being tested on a pilot basis with eight banks, RBI Deputy Governor Shirish Chandra Murmu said on Thursday.

Speaking to IANS on the sidelines of an event in Mumbai, Murmu said the platform is already operational with eight banks and that efforts are underway to expand its implementation.

“It is already running on a pilot basis in eight banks. We are trying to expedite it,” Murmu said.

IDPIC has been established to create a mechanism for sharing real-time fraud intelligence and alerts among banks and financial institutions. The platform will use technologies including Artificial Intelligence (AI), Machine Learning (ML) and Big Data Analytics to help detect and prevent digital payment frauds.

The initiative is part of wider efforts by the government and the RBI to strengthen cybersecurity across India’s rapidly expanding digital payments ecosystem. The central bank has also been taking measures to identify and prevent the misuse of banking channels and mule accounts in cyber fraud.

The RBI has separately deployed its AI and machine learning-based MuleHunter.AI solution for detecting mule accounts. According to the government, the system was operational in 26 banks as of March 2026 and was being scaled up further.

The push to strengthen fraud detection comes as digital payments continue to expand across the country, increasing the need for faster information sharing between financial institutions and other stakeholders.

Murmu also noted that despite the rapid growth of digital transactions, cash continues to remain relevant as a store of value, highlighting the coexistence of digital and cash-based transactions in the Indian economy.