Financial Fraud Relating Feature Migrated To Daksh

The Reserve Bank of India (RBI) vide circular dated December 26, 2022 announced that the Electronic Data Submission Portal which earlier used to be a part of the Central Payments Fraud Information Registry (CPFIR) is being migrated to DAKSH^[1] which is RBI’s advanced super monitoring system, with effect from January 1’ 2023. The Reserve bank of India issues these directions under Section 10(2) read with Section 18 of the Payments and Settlement Act 2007.

The RBI took the initiative to streamline the process of reporting, enhancing efficiency and automating the payments fraud management process. DAKSH not only provides facilities like bulk uploading of documents but also provides functionalities like a maker checker facility, online screen-based reporting, an option for requesting additional information facility to issue alerts /advisories, and generation of dashboards and reports.

^[1] https://m.rbi.org.in/scripts/BS_CircularIndexDisplay.aspx?Id=12431