SBI, BoB Received RBI’s Approval to Set Up Fraud Detection Platform
In December 2025, State Bank of India (SBI) and Bank of Baroda (BoB), received approval from the Reserve Bank of India (RBI) to establish the Indian Digital Payment Intelligence Corporation (IDPIC), aimed at developing a digital payments intelligence platform.
In December 2025, State Bank of India (SBI) and Bank of Baroda (BoB), received approval from the Reserve Bank of India (RBI) to establish the Indian Digital Payment Intelligence Corporation (IDPIC), aimed at developing a digital payments intelligence platform.
- It aims to detect and curb fraudulent digital transactions across all Public Sector Banks(PSBs).
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- What? Received RBI’s Approval to set up IDPIC
- By Whom: SBI and BoB
- Purpose: To develop a digital intelligence platform
- Legal Structure: Section 8 Company under Companies Act, 2013
- Capital: Authorised capital Rs.500 crore, paid-up capital Rs.200 crore
- Shareholding Exemption: PSBs allowed to hold >30% stake in IDPIC
About IDPIC:
Legal Structure: The proposed company IDPIC will be established as a Section 8 Company (a special type of non-profit organisation) under the Companies Act, 2013.
Capital: The proposed company will be set with an authorised capital of Rs 500 crore and paid-up capital of Rs 200 crore.
Shareholding: The Department of Financial Services (DFS), Ministry of Finance (MoF) granted exemption to both PSBs from a Section 19(2) of the Banking Regulation(BR) Act, 1949, thereby allowing them to hold more than 30% stake in IDPIC till October 2026.
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