The Growing Innovation of Fraudsters and the Need for Vigilant Awareness

 July 8, 2025, at 9:35 AM

While on my morning walk today, I received a call from an unknown number. The caller identified himself as a representative from the “Cyber Protection of India,” supposedly based in New Delhi. He began by confirming my mobile number, which I acknowledged, but I do not recall confirming my name.

The caller then alarmed me by stating that my phone number was allegedly involved in some form of cyber violation and that his call was merely a follow-up investigation. As a senior citizen in my late 70s, who has always held strong values of honesty, ethics, and compliance with all laws, I was shocked and disturbed by this unexpected accusation.

However, within moments, I recognized the deceptive tone and realized I might be speaking with a fraudster. To extricate myself from the situation safely and avoid being drawn further into what appeared to be a potential digital fraud, I calmly responded, saying that I too was affiliated with the department and would like the full details of the supposed violations sent via SMS for further scrutiny. At that point, the caller abruptly disconnected.

Reflections and Concerns:

Digital fraud is alarmingly on the rise. Every day we read stories of innocent citizens—particularly elders—being manipulated through fear tactics, false claims of authority, or even threats of arrest. It leads to an important question:
How are such fraudsters gaining access to phone connections and bank accounts despite the strict KYC (Know Your Customer) norms enforced in India?

While authorities claim that KYC protocols are diligently followed, these incidents suggest that fraudulent elements continue to find ways to exploit loopholes—whether through forged documents, mule accounts, or exploiting digital vulnerabilities.

What Needs to Change:

• Community Awareness: There needs to be a robust, nationwide campaign to educate citizens—especially senior citizens—about common fraud tactics and how to respond.

• Easy & Anonymous Reporting: Citizens should be encouraged and empowered to report suspicious calls quickly and easily, without fear or complex procedures.

• Data Sharing & Intelligence: A more integrated platform should exist where public tips and inputs are used by law enforcement agencies to build fraud databases and track patterns.

• Stronger Penalties and Surveillance: Telecom and banking regulatory bodies must work closely with cybercrime departments to proactively monitor and crack down on entities issuing SIM cards and opening accounts under false identities.

India has a rich tradition of trust, community support, and respect for the law. If 99.9% of the population wants to live righteously, then this vast majority can become a powerful ally to the authorities—if given the tools, platforms, and encouragement.

“Readiness is all.” We must stay prepared, informed, and united to fight the innovation of fraud with the innovation of vigilance.

Loka Samastha Sukhino Bhavanthu.
(May all beings everywhere be happy and free.)

T V G Krishnan

( Personal Views).

Why not bring in some workable reforms, make life comfortable and happy and realise the dream of Advanced economy by 2047.

 The article only highlights  the lack of administration and accountability across both public and private sectors, particularly in customer service. Despite strong marketing efforts and growing economic ambitions, consumers — the foundation of the economy — are being neglected. The digitisation of services has removed meaningful human interaction, eroding trust and confidence in institutions.

Banks focus more on mobilising deposits than serving depositors, who stick with them mainly due to safety and government backing, not service quality. Insurance companies, especially through third-party agents, are singled out for poor service, mechanical claim processing, and a lack of common sense or fairness. Automated responses have replaced real service, worsening the customer experience. The understanding of Banking in general and KYC in particular is unfortunately missing at all institutions and all levels of hierarchy. 

Fraud is rampant in consumer services, with duplicate agents posing as genuine ones, especially in appliance servicing. The erosion of trust spans the entire ecosystem — government, private, and public sectors alike. The piece calls for urgent reforms in governance, transparent accountability, and responsive customer service to ensure a better quality of life and support the dream of becoming a developed economy by 2047.

Loka Samastha Sukhino Bhavanthu.

T V G Krishnan

(Personal Views )

Is it not tiime to reduce the Cash Payment, improve tax compliance and Digitalise the economy ?

 Apropos  the editorial Long Live Cash! Even as cashless is in (ET 26/6/25 )the surge in digitalisation and the promise of robust economic growth have paradoxically been accompanied by an increase in cash demand—a scenario that seems contradictory, yet also indicative of a certain optimism in the Indian economy. Despite rapid strides in digital payments, the behavioural preference for cash remains deeply entrenched. Traditional factors such as the prevalence of black money, corruption, high inflation, and inconsistent cash supply through ATMs continue to reinforce this tendency. For many, cash remains not just a medium of transaction, but a symbol of financial control and certainty in uncertain times.Moreover, the increasing demand for real estate, gold, and other high-value commodities reflects widening inequality, but perhaps also hints at a deeper shift: the growing confidence in the Indian rupee. The rupee’s use in international transactions, in place of the dollar in some contexts, may be a subtle but significant development in India's economic story.

While digitalisation has indeed grown multifold—a welcome and necessary change—it has not yet delivered fully on some of its key promises. Better tax compliance, reduced use of hard currency, and a shift in behavioural motivations for cash use remain elusive goals. These realities call for deeper introspection.In essence, the co-existence of rising digital adoption and continued cash demand is not merely a contradiction—it’s a reflection of India’s complex and evolving economic fabric. Both cash and digital must continue to co-exist until systemic trust, inclusion, and behavioural shifts align more decisively.

T.V.Gopalakrishnan

 

Educate, Convince, and Inspire Citizens to Obey Laws and Realize Their Dreams

“It is not wise to violate rules until you know how to observe them.”
— T. S. Eliot

India, with its vast population and enormous geographical diversity, faces serious challenges in public discipline, civic behaviour, and infrastructure. Yet, despite these constraints, the quality of life in our country can be vastly improved—if both the administration and the public take collective responsibility to bring about change in everyday practices.

Countries known for high living standards tend to have efficient governance, a strong legal system, and a culture of civic responsibility. India must move in that direction—not by importing models, but by nurturing discipline and respect for the rule of law from within. Below are some actionable pathways for progress:

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1. Queue Culture: A Basic yet Powerful Civic Habit

Standing in queues at bus stands, railway stations, hospitals, temples, and malls should be part of our national behavior. From childhood to old age, the habit of waiting one's turn should be encouraged, with reasonable exceptions made for the sick, the differently-abled, and senior citizens above 80.

Discipline begins with such simple, everyday practices—and the benefits ripple across society.

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2. End the VIP Culture: Everyone Is a Citizen First

The mindset of entitlement and special privilege—particularly at public places like airports, temples, and government facilities—must be discouraged. Facilities built with taxpayers' money should prioritize the public. VIPs, celebrities, and officials should demonstrate humility, not superiority. Priority access should be given only in exceptional, justified circumstances.

Removing the VIP mentality sends a strong message: in a democracy, all are equal before the law and in public spaces.

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3. Respect Traffic Rules: Roads Are for Everyone

The regular violation of traffic rules—especially by those in authority or with influence—reflects poorly on our society’s civic sense. Queue jumping, signal breaking, and reckless driving waste time, create chaos, and often endanger lives.

Strict enforcement of traffic laws, equal treatment under those laws, and public accountability are essential for restoring order and efficiency in our cities.

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4. Roads and Footpaths: A Mirror of Governance

Broken roads, potholes, illegal parking, and garbage-strewn streets show the cracks in our civic management. While natural wear and tear is expected, the lack of proper planning, poor materials, corruption, and inadequate oversight exacerbate the problem.

Improved planning, quality control, regular inspections, and empowered citizens (through mechanisms like social audits) can restore dignity to our public spaces.

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5. Legal Literacy: Know the Law, Respect the Law

Just as financial literacy has empowered millions to save, invest, and secure their futures, legal literacy must become a national mission. Citizens must understand the Constitution, the basics of governance, and the purpose behind laws. Knowing how laws protect rights and ensure justice can motivate people to follow them—not out of fear, but out of understanding.

The Legislature, Judiciary, and Executive must collaborate to simplify and disseminate this knowledge—especially to the youth and in rural areas. There is a real pleasure and Joy in understanding the laws of the land and obeying the laws as a matter of habit and culture in day to day life by all will pave the way not only for  a very healthy economic progress but also for all round welfare and dignified  living. 

If every institution—be it in the government or private sector, corporate or cooperative sector—and every professional and citizen across all walks of life were to develop a deep awareness of the laws of the land and commit to observing them in both letter and spirit, the socio-economic progress our country could achieve would be truly phenomenal.

Such a transformation would not only foster a culture of accountability, transparency, and fairness, but also significantly reduce the burden on our judicial system. The age-old adage "justice delayed is justice denied" would become a relic of the past, as legal compliance and ethical conduct would naturally diminish the volume of litigation. The chronic backlog of cases pending for decades in various courts could finally become history, making way for a society rooted in trust, equity, and rapid progress. 

A Call to Conscience

True democracy is not just about voting once in five years. It is about daily participation—through small actions, civic awareness, and respect for others' rights. If people become more law-abiding, the scope for corruption, black money, inefficiency, and injustice will drastically shrink.

Let us build an India where people not only dream but also live their dreams in peace, order, and dignity.

“True administration of justice is the firmest pillar of good Government. There is a higher court than the courts of justice, and that is the court of conscience.”
— Mahatma Gandhi

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T V G Krishnan
(Views are personal)

Improve Governance standards and remove the structural weaknesses .

This refers to the Article RBI rate cut cannot Hide Structural Weaknesses in Money Life June 2025. The conclusion of the article that 'the economy is doing well, it is for the well off", reflects and captures well of the present state of affairs of the people less well off in the society . The monetary policy no doubt has changed it’s stance from accommodative to neutral but it really accommodates the borrowers particularly in the manufacturing segment and industrialists to think of expanding their investments and go on for enhanced production and employment through cheap credit though the overall cost of production remains unattractive thanks to irrational gst , uncertainties in the geo political conditions , and not so favourable international economic scenario . The fiscal policy needs to be tuned a lot more in tune with monetary policy to strengthen the structural weaknesses in the economy to improve employment , lessen inequality , remove corruption , black money and malpractices seen in governance everywhere All said RBI has been found to be very understanding and accommodative but a lot remains to be done to fully exploit the talents , potential resources and achieve the dream of becoming the most advanced economy by 2047. The vision is encouraging and clear but the path has  many hurdles but manageable provided the needed attention and steps are initiated to strengthen the Governance standards. 

(This comment appeared in Money Life against the Article "RBI  rate cut cannot Hide Structural weaknesses " ) 

RBI All support for the economic growth,

 RBI for boosting the Growth 

Kudos to RBI for having shifted its policy (June 6) stance from accommodative to Neutral and providing the much needed accommodative changes in its Monetary policy announcement made on 6th June 2006. Recognising the fall in inflation seen and expected , the need for giving a boost to the manufacturing segment of the economy which is slowing down,  understanding  the issues on account of geopolitical conditions, and appreciating the domestic  the present economic and environmental circumstances, the RBI has reduced the Repo rate by  0.50 percent and CRR by 1% in four instalments to add liquidity in the system and give a boost to credit growth , The relaxation in gold loans is a boon to give an impetus to Financial Inclusion and enhance the much needed relief to the weaker sections and augment their income through incentivised economic activities. The  only pitfall in the policy may perhaps be in the possible  reduction of FD rates for Senior Citizens, but if inflation is really brought down to 3.70 % as  envisaged and the expected growth in the economy becomes a reality, they may have the patience and tolerance to put up. All said the policy is very  motivating in character and  Hope  the Banks  and NBFCs will pass on the intended benefits in letter and spirit and will activate the wings to perform and realise the dreams. 

T V G Krishnan

6/6/25

Well Done RBI. Keep Going Strong.

 RBI Pleases All and Mints its  well deserved  Recognition. 

Apropos the Article “it is not RBI’s job to please All (June 5),  but traditionally , historically and functionally RBI does it’s job efficiently ,  effectively,  elegantly and eminently is a well established truth accomplished and acknowledged  nationally and internationally .The credit for this goes to almost all the Governors  for their wisdom , knowledge , dynamism to understand the multitasks the institution carries and dances to the tunes set elsewhere but maintaining the rhythm and steps perfectly motivating , developing  the human resources  by  providing the needed skill , knowledge, values and the work culture and unique functions unheard of. Though it is generally believed Charity begins at home but RBI pursues a different kind of charity enriching the nation's economy by adjusting to the tunes of the Government in power, and ensuring welfare for all through Financial literacy, Financial inclusion and keeping the country's reserves and resources in tact with value addition and providing the best of financial infrastructure to meet the national and international  viz  political, economic social and technological challenges admirably. The contribution of RBI's Human Resources is by all means unique and extraordinary but alas,  RBI is not allowed to have its way to perform, enjoying its own independence , wisdom and initiative like other Central banks of the advanced countries is perhaps the only black spot which is  correctible and definitely avoidable as like RBI , there can't be any other support institution serving the Governments in power and the nation to the best of its competence and national spirit. 

     

T.V.Gopalakrishnan

( Personal Views)

Bangalore