RBI to migrate payments fraud reporting module to Daksh on January 1

Reporting on the existing Electronic Data Submission Portal (EDSP) to stop completely once migration happens

The Reserve Bank of India (RBI) said on Monday that it is migrating the payments fraud reporting module to Daksh, RBI’s advanced supervisory management system, on January 1, 2023, to streamline reporting, enhance efficiency and automate the payments fraud management process.

“In addition to the existing bulk upload facility to report payment frauds, Daksh provides additional functionalities, viz. maker-checker facility, online screen-based reporting, option for requesting additional information, facility to issue alerts / advisories, generation of dashboards and reports, etc,” the RBI said in its circular to the top honchos of banks, non-bank payment system operators, and credit card-issuing NBFCs.

In its