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Rajan warns against online fraud

'I do not send emails asking for money': RBI Governor warns against Online Fraud
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Reserve Bank of India Governor Raghuram Rajan on Monday asked the public to be wary against any fictitious e-mails sent in his or the central bank's name demanding money.

"Let me emphasise that Reserve Bank never sends out e-mails asking for payments. We have about $60 billion worth of foreign exchange reserves and we also have about Rs 8 lakh crore of government bonds. We really don't need your money," Rajan said at the launch of Unified Payments Interface (UPI) system.

In the past, there have been instances of people getting fake e-mails in the name of RBI or its Governor promising high returns and winning lottery.

We do not send out money and we don't also ask for your money....We do not need your money: RBI Governor

The fraudsters initially ask potential victims to deposit small sums of money for processing fees or transaction fees. The victims are asked to deposit the money in a specified account in a bank.

"So, if you get an e-mail from me saying you won a competition or a lottery and I am going to send you Rs 50 lakh but please send Rs 20,000 as transaction cost, just junk that e-mail. We do not send out money and we don't also ask for your money," the Governor said.

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