SAJEER Vs. RESERVE BANK OF INDIA

JUDGEMENT

(1.) The 'Unified Payment Interface (UPI), has transformed the financial spectrum in India; and in particular, the manner in which people transact money. Its easy-to-use interface and ingrained security features, has made "UPI" the preferred mode of payment for millions of Indians, making it the fastest growing payments systems in the world.

(2.) However, like in many good initiatives, there are chinks in the armour - in a manner of speaking; Charlatans commit Cyber Crimes and create byzantine maze of accounts, through which ill-gotten wealth is moved and parked.

(3.) The National Cyber Crimes Portal (NCCP) has been set up by the Ministry of Home Affairs, under the aegis of the Indian Cyber Crime Co-ordination Centre, to enable any person - who becomes a victim of Cyber Crime, to register on the said portal; which then triggers an appropriate response and criminal investigation.