RBI Governor Raghuram Rajan cautioned the public against any fictitious e-mails in his or the central bank's name demanding money. Speaking at the launch of Unified Payments Interface, UPI system in Mumbai, Mr. Rajan asked people not to fall prey to any fraud messages. He said, the RBI has about 360 billion dollars worth of foreign exchange reserves and about 8 lakh crore rupees of government bonds as well. He said, the bank really doesn't need people's money.The RBI Governor noted, India has the most sophisticated public payment infrastructure in the world which can be accessible to anybody who enters the system. Managed by the National Payments Corporation of India, the UPI will allow customers to instantaneously transfer funds across different banks using a single identification and password. The new protocol came into effect from Monday.