July 21, 2017 7:29 PM

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Digital transactions worth Rs 12,000 cr carried out every year: Govt

Government on Friday said there were around 12,000 crore rupees worth of digital transactions every year and the number of fraudulent transactions among these was low.<br/><br/>During question hour in Rajya Sabha, Minister for Electronics and Information Technology Ravi Shankar Prasad said Reserve Bank of India has started maintaining provisional data of fraudulent transactions for prepaid payments including e-wallets.<br/><br/>He said, according to the data for March to May this year the number of fraudulent transactions is between 0.005 to 0.007 per cent of the total number of transactions. Mr Prasad said government is taking several steps to make digital payments secure. He also said the government is considering the suggestions made by a committee headed by Andhra Pradesh Chief Minister N Chandrababu Naidu on digital transactions. <br/><br/>A member had sought to know whether the government planned to implement the recommendation by the committee for including a provision of insurance cover for digital transaction frauds.

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