India’s ₹23,000 Crore Fraud Crisis | RBI’s New AI Weapon Against Cyber Crime

India is in the grip of a cybercrime epidemic. From fake “digital arrests” to scam calls like “Aapka parcel ruk gaya hai” and “Bijli cut ho jaayegi,” fraudsters are duping people every hour. The numbers are staggering: ₹23,000 crore lost last year, and reported cases tripled to 1.23 lakh between 2022 and 2024. Even a retired banker lost ₹23 crore in 20 fake transactions. Now, the RBI is launching the Digital Payments Intelligence Platform (DPIP) — an AI-powered system designed to detect and stop scams before they happen. With real-time alerts and fraud intelligence sharing, this may be India’s best hope against rising online crime. Till then, one message: never share your OTP.