Context and Urgency
- Triggered by heightened border tensions with Pakistan, raising concerns over cybersecurity threats.
- Finance Minister Nirmala Sitharaman chaired a high-level review meeting on cyber preparedness in the financial sector.
Relevance : GS 3(Banking ,Internal Security)
Key Directives Issued
- All banks must:
- Coordinate with RBI and CERT-In for quick cyberattack responses.
- Appoint twoseniorofficials at headquarters:
- One for cyber incident reporting
- One for operational continuity (branches, ATMs)
- Ensure real-time reporting to CERT-In, DFS, and other relevant agencies.
Preparedness Measures in Place
- Banks reported:
- Deployment of anti-DDoS (Distributed Denial-of-Service) systems to counter large-scale cyberattacks.
- Mock drills conducted for cybersecurity and disaster recovery.
- Security Operations Centres (SOCs) and Network Operations Centres (NOCs) are:
- Fully operational
- On high alert
- Coordinating with CERT-In and NCIIPC (National Critical Information Infrastructure Protection Centre).
Focus on Uninterrupted Banking Services
- FM emphasized:
- Seamless cash availability in ATMs
- Uninterrupted UPI and internet banking
- Continued access to essential financial services, especially in border areas
Insurance Sector Instructions
- Insurance companies directed to:
- Ensure timely claim settlements
- Maintain customer support during potential crises
Support to Rural Banking
- Sponsor banks instructed to:
- Actively support Regional Rural Banks (RRBs) to ensure financial stability and inclusion at the grassroots.
