India Sets Up AI Platform to Fight Digital Payment Fraud
IDPIC will pool fraud intelligence across banks and issue real-time alerts using AI, machine learning and big-data analytics.
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The government has set up a central platform to share fraud intelligence and alerts with banks and financial institutions in real time, Finance Minister Nirmala Sitharaman told the Rajya Sabha on Tuesday, 28 July.
The Indian Digital Payment Intelligence Corporation, or IDPIC, was established in consultation with the Reserve Bank of India (RBI) and will use artificial intelligence, machine learning and big-data analytics to detect and analyze payment fraud, Sitharaman said.
The platform is designed to pool fraud signals across institutions, allowing them to identify suspicious transactions and coordinated activity that may be missed by their individual monitoring systems.
The RBI has said such network-level intelligence is needed because many scams involve victims being persuaded to make payments or disclose credentials.
IDPIC was incorporated on 16 October 2025 as a not-for-profit company under Section 8 of the Companies Act. State Bank of India and Bank of Baroda each invested ₹10 crore for a 50% stake, giving the company paid-up capital of ₹20 crore.
Former Canara Bank managing director and chief executive K. Satyanarayana Raju took charge as IDPIC’s managing director and CEO in February.
The RBI’s National Strategy for Financial Inclusion 2025–30 says the digital-payment intelligence platform is expected to be operational by December 2026.
Sitharaman said the government was also working with financial regulators to strengthen cybersecurity.
The National Cyber Coordination Centre, operated by the Indian Computer Emergency Response Team, or CERT-In, monitors cyber activity at the metadata level and shares threat information with regulators and affected organizations.
CERT-In also oversees CSIRT-Fin, a financial-sector incident-response team that analyzes cyberattacks, issues warnings and coordinates responses.
An inter-regulatory group under the Financial Stability and Development Council handles cybersecurity issues requiring action by multiple regulators.
