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RBI directs payment operators to scrutinize transactions during elections
source link: https://nextbigwhat.com/rbi-directs-payment-operators-to-scrutinize-transactions-during-elections/
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RBI directs payment operators to scrutinize transactions during elections
- The RBI has instructed all payment system operators to monitor suspicious transactions amid the election season.
- This move aims to prevent the misuse of funds to influence voters or support poll candidates, following concerns from the Election Commission of India.
- Payment operators are to particularly watch for high-value payments to merchants and recurring person-to-person transactions that could signify illicit activities.
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