Take control of your finances with a ‘safe’ digital banking account

In a world where everything is fast moving to digital mode, the banking system is not far behind. In fact, digital payments by e-commerce in India are projected to cross USD 120.3 billion by 2025, recording a Compounded Annual Growth Rate (CAGR) of 18.2 per cent between 2021 and 2025, according to a report by GlobalData.

But even as digital payments became the go-to option for many for the convenience and ease of use that they bring, this also left users highly vulnerable to cybercrimes and online frauds. Card and internet frauds rose to a staggering $1.55 billion for the year ending March 2022, compared to $1.19 billion in the previous year, as per figures compiled by the Reserve Bank of India (RBI). So, before you enter the world of digital banking, it is imperative to select the platform carefully to ensure that the money in your main account is safe at all times. Read on to know more.