The next decade is going to be the decade of electronic frauds, said Vijay Bhaskar, Regional Director of the Reserve Bank of India, here on Saturday.

He was speaking at the valedictory programme of the UGC-sponsored conference on “Indian Banking System: challenges ahead” organised by the SDM College of Business Management.He said the spread of information and communication technology would lead to a spurt in electronic frauds in the coming decade. He said another challenge that the banks would face in future was massive competition. “Competition will be the order of the day. We will not be able to sit in a relaxed manner,” he said. The Reserve Bank of India was in the process of issuing licenses to new banks, he said. He said Karnataka was a model State in the implementation of the financial inclusion programme of the RBI.

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