While tax evasion is a definite concern on the back of RBI's mind. My hunch is it has more to do with the fear of triggering more depreciation of the Rupee whic

While tax evasion is a definite concern on the back of RBI's mind. My hunch is it has more to do with the fear of triggering more depreciation of the Rupee which hasn't even recovered completely from its historic downward spiral earlier this year. A related concern is all this resulting in higher inflation, another problem that has plagued the economy. And I really doubt the RBI cares much about customer grievances. Credit card scams are the norm is India and it has never ever imposed stricter regulations and liabilities on Banks. So even though it highlights the concerns, in reality I really doubt the RBI cares if people get duped or not. It's just a fear tactic.