The Reserve Bank of India is hosting “Financial Literacy Week-2026” from February 9 to 13 to address the surge in digital fraud and misuse of bank accounts. Emphasizing Know Your Customer (KYC) compliance, the event aims to bolster secure banking practices. RBI Governor Sanjay Malhotra inaugurated the theme “KYC — Your First Step Towards Secure Banking” in Mumbai, underlining KYC’s pivotal role in fraud prevention.
The program, an annual initiative by the RBI since 2016, focuses on raising public awareness on financial matters through specific themes. Last year’s campaign stressed the importance of re-KYC for uninterrupted banking transactions at the gram panchayat level. In Gujarat, the RBI’s Ahmedabad Regional Office collaborates with banks and stakeholders to streamline the KYC re-registration process, extending to Dadra and Nagar Haveli and Daman and Diu.
During the week-long campaign, banks will educate customers on KYC compliance, Central KYC (CKYC) system, and the risks associated with fraudulent KYC requests. The initiative also aims to educate individuals about the perils of being used as financial mules. The state-level launch event at RBI Ahmedabad featured Financial Literacy Week posters unveiled by Regional Director Amresh Ranjan, with a strong commitment from officials to reinforce safe banking practices.
Sanjaykumar Keshwala, Superintendent of Police at the Gujarat Police Cyber Centre for Excellence, highlighted the significance of the national cybercrime helpline ‘1930’ and its online reporting portal during the event. He updated attendees on “Operation Mule Hunt” and pledged cooperation with banks to combat cyber threats. The RBI plans to conduct awareness activities nationwide in collaboration with banks and stakeholders, emphasizing that KYC is not just a regulatory obligation but a crucial step towards a secure financial ecosystem.
