Jaipur, Nov 1 (IANS) Reserve Bank of India (RBI) Governor Sanjay Malhotra, on Saturday, addressed citizens in Udaipur during the Central bank’s outreach programme “Your Capital, Your Rights”, cautioning people — especially senior citizens — against falling prey to digital arrests and online frauds.

He emphasised the importance of e-KYC for old bank accounts and urged the public to stay vigilant in the era of rapid digitalisation.

“Everyone from cities to villages is now connected to the digital revolution. But we must be careful — particularly our elders — so that they don’t become victims of digital arrests and fraud,” Malhotra said.

Sharing his reflections, the RBI Governor highlighted the remarkable rise of women in the banking and administrative sectors.

“When we joined the service, only about seven per cent of our batch were women. I recently asked the new officers about their numbers — they said around 33 to 50 per cent are women. Even today, half the participants here are women. It’s a moment of pride,” he said.

He also praised Udaipur Divisional Commissioner Pragya Kewalramani and local bank officials, noting that their leadership reflects how women are now progressing shoulder to shoulder with men across India.

Calling Udaipur a city close to his heart, the RBI Governor recalled his earlier postings in Rajasthan.

“I have worked in Udaipur, the city of lakes, during my career. This is my first visit to Rajasthan after taking charge as RBI Governor, and I am deeply touched by the warmth here,” he said.

Malhotra served as Tribal Commissioner in Udaipur (June 2009) and later as the Managing Director of Rajasthan State Mines and Minerals Limited in August 2009.

Highlighting the progress of financial inclusion, the RBI Governor remarked that nearly every citizen now has a digital bank account.

“Earlier, we spoke of literacy and awareness. Today, almost everyone has a digital bank account connected to net banking, mobile banking, or ATMs,” he said.

He added that the focus is now on digital financial literacy and ensuring secure transactions as India transitions into a fully digital economy.

During the campaign, the RBI also initiated the process of returning Rs 101.47 crore, lying unclaimed in 2,86,243 bank accounts in Udaipur district, to their rightful heirs.

Vikas Agarwal, RBI Deputy General Manager, said that these are unclaimed deposits being traced under a nationwide RBI initiative.

“This programme, launched under the Union government’s directive, aims to ensure that all unclaimed deposits reach their legitimate owners,” Agarwal said.

Concluding his address, Malhotra urged citizens to remain digitally aware and financially vigilant, emphasising that customer safety and convenience are the RBI’s top priorities.

“Do your e-KYC, stay alert to cyber scams, and ensure your financial rights are protected,” he advised.

–IANS

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