SRINAGAR: The Reserve Bank of India (RBI) on Saturday organised a conference on financial sector initiatives and cyber security awareness in Srinagar, bringing together senior government officials, bankers, regulators and law enforcement agencies to discuss credit delivery, digital finance and cyber fraud prevention.
The conference, organised by RBI Jammu at a hotel in Srinagar, was attended by Chief Secretary Atal Dulloo and RBI Deputy Governor Rohit Jain, along with RBI Jammu Regional Director Prabhakar Jha.
Addressing the gathering, Dulloo said the Jammu and Kashmir administration had prioritised sectors such as tourism, agriculture and allied activities, hydropower and micro, small and medium enterprises (MSMEs), and called for increased credit flow to these areas.
He said the RBI’s Unified Lending Interface (ULI) could help improve credit delivery and facilitate lending to productive sectors. He also highlighted the potential of the Trade Receivables Discounting System (TReDS) in addressing liquidity constraints faced by MSMEs.
The Chief Secretary said the Central Bank Digital Currency (CBDC), or digital rupee, could offer new possibilities for targeted delivery of welfare benefits and subsidies. He also stressed the need for coordinated efforts to combat cyber fraud and urged stakeholders to develop actionable strategies based on the discussions.
In his address, RBI Deputy Governor Rohit Jain outlined the central bank’s developmental initiatives in areas such as payment systems, financial inclusion and digital finance. He said the Unified Lending Interface was designed to enable seamless and efficient credit delivery across sectors.
Jain also highlighted measures undertaken by the RBI to strengthen cyber security and protect customers, including the deployment of fraud-detection tools, card tokenisation, introduction of the “.bank.in” domain, unified calling numbers and compensation mechanisms for unauthorised electronic banking transactions.
The conference featured sessions on the implementation of ULI in Jammu and Kashmir, the digital rupee, cyber fraud detection, regulation of digital lending applications, cybercrime trends, fraud prevention in Unified Payments Interface (UPI) transactions and challenges in expanding TReDS adoption.
Among those attending were Principal Secretary Home Chandraker Bharti, Additional Director General of Police (CID) M.K. Sinha, senior administrative secretaries, Jammu and Kashmir Bank Managing Director and CEO Amitava Chatterjee, officials from RBI, NABARD, National Payments Corporation of India (NPCI), banks operating in the Union Territory and representatives of law enforcement agencies.
