Mumbai, Jan. 27 -- RBI Governor Sanjay Malhotra held meetings with managing directors (MDs) and chief executive officers (CEOs) of Public Sector Banks and select Private Sector Banks on Monday. He flagged the rise in digital fraud and advised banks to establish robust and proactive systems to thwart such attempts.

He exhorted the banks to ensure continued financial stability, deepen financial inclusion, improve digital literacy, enhance the availability and affordability of credit, strengthen customer service and grievance redress mechanisms, and continue to invest in technology.

The interactions were part of the central bank's continuous engagement with the senior management banks. The meetings were also attended by Deputy Governors M ...