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People doing online transactions must be aware of risks: India’s cyber security chief

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(G.N.S) Dt. 16
New Delhi
Even as the government promotes more digital transactions, the country’s cyber security chief Gulshan Rai said on Thursday he rarely does any internet banking himself because he understands the “issues there”, hinting that people doing online transactions must be aware of the risks.
“There are issues like who is the regulator of digital marketplace? How do we handle the consumer grievances?… Frauds in ATMs and credit cards are very complex and solving them is a bit difficult,” Rai said at a conference chaired by consumer affairs minister Ram Vilas Paswan.
“I have a separate account that keeps small amount in the bank. If I have to do that in a debit card, I put 25,000 in that account and do transaction so that I don’t go to the National Consumer Disputes Redressal Commission,” he added.
Rai said the younger generation is relying a lot on digital transactions which poses a challenge to the system entrusted with protecting their rights.
Paswan said both digital literacy and financial literacy should go hand in hand so that consumers are skilled enough to confidently use digital payments system and various financial products. He asked companies to develop systems to make it easier for consumers to understand risks and opportunities for their products and services online. NCDRC member M. Shreesha said the provision in the proposed Consumer Protection Bill to allow consumers to file complaints at the place of residence or work will prove to be a boon, particularly relating to buying goods or services through digital transactions.
Consumer rights activists demanded the quick passage of the bill to protect consumers.

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