With an aim to educate the public about frauds, fictitious offers, and rumors, RBI launched an awareness campaign in November last year.
With an aim to educate the public about frauds, fictitious offers and rumors, RBI launched an awareness campaign in November last year. Till date, RBI has sent SMSs to millions of mobile phone subscribers across the country. More than 3,000 million text messages were received by the customers between November 10, 2017 and June 30, 2018, the latest released RBI annual report said. In total, seven different messages formed the part of the campaign.
A ‘missed call’ element is also a part of the awareness campaign under which a phone subscriber can give a missed call on RBI’s short code number (14440) to get a call back with more information on the subject of the SMS a pre-recorded Interactive Voice Response System (IVRS).
The campaign covered issues such as rumours on coins, fraud offers, limiting losses post a fraudulent transaction in one’s bank account. The report shows that more than 27 million missed calls were received by the RBI from mobile phone subscribers and 20.43 million were called back.
Nearly 550 million mobile phone subscribers were covered for a period spanning over 12 days under first SMS of this campaign. The second SMS had a link to the Sachet website for registering complaints against fraudsters. It sent to nearly 590 million subscribers over a period of 12 days starting November 22, 2017.
Meanwhile, RBI’s annual report for 2017-18 released on Wednesday showed 99.3 percent of the banknotes of Rs 500 and Rs 1,000 denomination. The banned currency notes are called as specified bank notes (SBNs).
The report also said that the banned Rs 500 and Rs 1,000 notes worth Rs 15.31 lakh crore, out of Rs 15.41 lakh crore in circulation as of November 8, 2016, were returned to the banks. It amounts to meager Rs 10,720 crore of demonetised notes didn’t return to the lenders.