Digital Banking
Digital banking tests channels, transaction limits, authentication and safe-use rules. Expect UPI, NEFT, RTGS, IMPS, cards, AePS, wallets, net banking and fraud reporting.
Channels and rules
- UPI is an NPCI real-time payment system linked to a bank account; the UPI PIN authorises debits.
- NEFT has no minimum and settles in batches; RTGS is real-time with a ₹2 lakh minimum; IMPS is immediate.
- AePS enables Aadhaar-based banking, often for micro-ATMs and business correspondent outlets.
- Cards use EMV chips and tokenisation; OTP or PIN provides two-factor authentication.
- Bharat BillPay handles bill payments; NACH handles bulk credits and mandates.
- Report unauthorised transactions immediately to the bank and on cybercrime.gov.in or helpline 1930.
Worked example
A customer receives an SMS: 'Your KYC has expired. Click this link and share the OTP to reactivate.' The correct response is not to click, not to share the OTP, and to report the SMS to the bank and 1930. Reason: banks do not ask for OTP, PIN or passwords through links; the message is phishing. If the customer has already shared details, request card or account blocking and a dispute entry at once.
Traps that cost marks
Sharing an OTP because the caller knows the customer's name; confusing the UPI PIN with the ATM PIN; allowing a screen-sharing app during a support call; assuming a payment is safe because the app shows a bank logo; and believing RTGS has no minimum. A collect request approved with a PIN is a payment, not a refund.