More Stories

Informist, Thursday, Feb. 19, 2026

 

NEW DELHI – The Delhi High Court has issued notices to the Ministry of Finance, the Reserve Bank of India and the National Payments Corp. of India on a public interest litigation seeking comprehensive guidelines to prevent frauds occurring through unified payments interface platform and to ensure prompt recovery mechanisms for the victims.

The high court will next hear the public interest litigation filed by Pankaj Nigam on Apr. 8.

 

The petitioner said the public was being defrauded by unknown persons through the unified payments interface platform, and the threat is not only restricted to their hard-earned money but also to their life and liberty. This was in clear violation of the fundamental rights guaranteed under Article 21 the Constitution, he added.

 

Nigam has sought directions to the Reserve Bank of India to make it mandatory for all the banks and financial institutions to allow only Know Your Customer-complete bank accounts to participate in unified payments interface platforms. 

 

Further, the petitioner sought creation of a dedicated platform, seamlessly integrating the National Cyber Crime Helpline Portal with unified payments interface applications, banks, payment service providers and telecom operators, allowing the victims to report such crime in a simplified and time sensitive manner. The petitioner prayed for framing of guidelines to include unified payments interface platform frauds under INR 1 million under the e-zero first information report initiative, automatically registering the report for serious online financial frauds, and streamlining the hurdles regarding multiplicity of applicable laws and jurisdictional delays in reporting to correct cyber crime police station.

 

Earlier, the petitioner had filed a similar petition before the Supreme Court. However, the top court had declined to entertain the petition in 2025 and left it open for Nigam to make a representation to the authorities with appropriate suggestions. If any such representation is made, the same may be considered by the authorities, the apex court had said.  End

 

Reported by Surya Tripathi

Edited by Vandana Hingorani

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.