Finance Minister Reinforces Cybersecurity Amid Border Tensions

Finance Minister Nirmala Sitharaman convened a high-level meeting with bank and insurance CEOs, focusing on cybersecurity in response to western border tensions. Key measures include anti-DDoS systems, mock drills, and heightened security protocols. Banks must ensure continued services, with safety and readiness as priorities.

In response to rising security concerns due to tensions at India's western border, Finance Minister Nirmala Sitharaman led a high-level meeting on Friday, emphasizing cybersecurity enhancements within the banking sector. Attendees included key figures from both public and private banks, insurance companies, and senior officials from the Department of Financial Services, CERT-In, RBI, IRDAI, and NPCI.

The meeting focused on reviewing the banking sector's operational and cybersecurity preparedness, specifically concerning digital applications like internet banking and UPI. CEOs and MDs assured the Finance Minister of enhanced cybersecurity measures across the banking system, including implementing Anti-DDoS systems to thwart large-scale cyber-attacks and conducting mock drills for cybersecurity and disaster recovery scenarios.

Finance Minister Sitharaman highlighted the critical role of the financial sector in maintaining economic stability during geopolitical tensions, directing banks to ensure uninterrupted services. She emphasized updating and testing emergency protocols, prioritizing cash availability, and securing banking infrastructure. Additionally, Sitharaman urged enhanced safety measures for bank employees at border areas and mandated regular audits and real-time coordination with CERT-In and relevant agencies.

(With inputs from agencies.)