With the border situation growing tense between India and Pakistan, finance minister Nirmala Sitharaman has asked Indian banks to tighten their cybersecurity and operational measures—especially in border regions. This came during a high-level meeting on May 9 with top officials from the financial and regulatory sectors.
The minister made it clear that banking services must continue without a hitch. Not just that—she called for strong emergency protocols and round-the-clock monitoring of digital platforms like internet banking and UPI (Unified Payments Interface).
She stressed that glitches or cyber breaches at this point would be unacceptable and directed banks to run regular audits of their cybersecurity systems and data centres. All infrastructure—especially digital and core banking systems—must be properly “firewalled” and monitored constantly to block any suspicious activity.
To improve accountability, Sitharaman has asked each bank to appoint two senior officials at the head office: one for handling cyber-related issues, and the other to ensure operational functions like ATM cash supply and branch availability are running smoothly. These officials will be required to report any incidents immediately to CERT-In (Indian Computer Emergency Response Team) and relevant government departments.
The finance minister also reminded insurance companies to settle claims without delay and maintain customer service—whatever the situation. The aim, she said, is to avoid panic and maintain financial stability.
Banking executives at the meeting reassured the minister that anti-DDoS (Distributed Denial-of-Service) systems are already in place. These systems help protect websites and apps from cyberattacks that try to overwhelm services by flooding them with traffic.
They also said mock drills were being carried out regularly, and cybersecurity teams are actively working in sync with CERT-In and the National Critical Information Infrastructure Protection Centre (NCIIPC).
A statement from the finance ministry added that the government remains committed to both national security and economic stability. While the situation remains unpredictable, officials say India’s banking and financial system is prepared and resilient.
(By arrangement with Livemint.com)
