RBI Floats Draft Rules To Standardise Account Blocking In Cyber Fraud Cases

The Reserve Bank of India (RBI) has proposed a new framework to establish uniform standard operating procedures (SOPs) for banks dealing with accounts and transactions suspected of being linked to cyber frauds. Called the Reserve Bank of India (Know Your Customer) Amendment Directions, 2026, the draft norms come barely a month after the Supreme Court (SC) directed the central bank to build a uniform, time-bound protocol for dealing with accounts implicated in cyber frauds.