RBI cautions public against email frauds

Reserve Bank of India (RBI) Governor Raghuram Rajan on Tuesday cautioned the general public against emails that claim to provide monetary rewards from the central bank on the pretext of phony schemes.

"If you get an email from me or any future governor promising to transfer a large sum of say Rs 50 lakh to you if only you send a small transaction fee of Rs 20,000 to a specific bank account, delete the email," Rajan said at the post-policy press conference held here.

The RBI Governor spoke after the third bi-monthly monetary policy review for 2016-17, which was held here at the Mint Street.

"The reality is such emails are not from me and the RBI does not give out money directly to ordinary citizens, even though we print plenty of it," he cited.

Rajan asked the public to examine and not fall prey to such emails.

"While the emails usually contain very convincing reasons why you have been chosen to receive money, ask yourself why I cannot simply deduct Rs 20,000 and send you Rs 49.8 lakh," he explained.

Rajan, who kept the key policy rates unchanged in his last monetary policy review, also announced the start of a year-long public awareness and consumer protection campaign.

--IANS

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