Chief Minister Devendra Fadnavis stated on Friday that Maharashtra has established a “cyber corporation” to combat digital fraud and has provided a comparable service in two other states.
Digital fraud and other cybercrimes have surged across the nation. In the last five years, the number of financial frauds has more than quadrupled, reaching 36,075 in the 2023–2024 fiscal year (FY24). According to the Reserve Bank of India’s annual report, frauds involving digital payments (card or internet) rose from 2,677 in FY20 to 29,082 in FY24.
Startups leaving Maharashtra
According to Fadnavis, between 2009 and 2014, the state failed to build enough infrastructure in Mumbai, which resulted in a high cost of living and entrepreneurs relocating to Bengaluru and Hyderabad.
“It became unaffordable for the IT-enabled industry to stay in Mumbai. The IT (information technology) revolution went to these cities because of our inefficient working. But we have started working on that after 2014.”
The state will open a business incubator named M-Hub, according to Fadnavis, who was originally appointed chief minister in 2014 and is currently serving his second term after a hiatus. “We want to create a lot of space which is plug-and-play in Navi Mumbai. It will be comparable to Bengaluru and Hyderabad.”
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