SBI is stepping up to tackle digital payment fraud
Business
SBI is planning to buy a 50% stake in the new Indian Digital Payment Intelligence Corporation (IDPIC) by investing ₹10 crore.
This move is all about making online payments safer and spotting scams faster.
The deal has received RBI's approval and is expected to be completed by December 15, 2025.
What IDPIC will actually do
IDPIC, set up in October 2025 as a not-for-profit, wants to use smart tech and real-time data sharing to fight digital payment fraud.
By building a central database of scam info for banks and other financial institutions, it hopes to catch suspicious activity quickly and boost trust in digital payments.
SBI will play a big part in getting this off the ground.