Vigilant Banking Amidst Conflict: A Directive from Finance Minister Sitharaman

Finance Minister Nirmala Sitharaman convened a meeting advocating for heightened vigilance in the banking sector due to the military conflict between India and Pakistan. She emphasized continuous banking services, employee safety, and cybersecurity. Banks are urged to ensure seamless operations, readiness against cyber threats, and active coordination with security agencies.

In light of escalating tensions between India and Pakistan, Finance Minister Nirmala Sitharaman has urged banks to maintain robust and uninterrupted services. Addressing a crucial meeting with CEOs of banks and insurance companies, Sitharaman highlighted the banking sector's pivotal role in sustaining economic stability.

The minister stressed the importance of ensuring both physical and digital banking operations remain fully functional, emphasizing the necessity for updated emergency protocols to handle any potential crisis. She also emphasised the safety of bank employees and their families, especially those stationed near border areas, advising close cooperation with security agencies for comprehensive protection.

During the high-level meeting, which included representatives from banks, RBI, and government departments, Sitharaman reviewed cybersecurity measures. She called for rigorous audits and fortified cybersecurity systems to thwart potential cyberattacks amidst current geopolitical challenges, ensuring a swift, coordinated response with relevant agencies.

(With inputs from agencies.)