Reserve Bank of India (RBI) approves State Bank of India (SBI) and Bank of Baroda (BoB) to establish Indian Digital Payment Intelligence Corporation (IDPIC) as Section 8 non-profit for fraud detection.

Exam-focused facts from the 12 December 2025 current affairs briefing.

Key facts

Reserve Bank of India (RBI) grants approval to State Bank of India (SBI) and Bank of Baroda (BoB) to set up Indian Digital Payment Intelligence Corporation (IDPIC).
IDPIC will be formed as a Section 8 company under the Companies Act, 2013.
The platform aims to detect and prevent fraudulent digital transactions in public sector banks.
Approval is conditional on exemption from Department of Financial Services, Ministry of Finance, allowing banks to hold over 30% of paid-up share capital in IDPIC until October 16, 2026.