FM Directs Banks to Enhance Security and Ensure Uninterrupted Services Amid Rising Tensions

National National

Posted by NewAdmin on 2025-05-12 11:56:52 |

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 13

---

Union Finance Minister Nirmala Sitharaman has issued a directive to banks and financial institutions to ensure the security of their digital and core banking infrastructures amid ongoing security concerns arising from tensions with Pakistan. On Friday, Sitharaman chaired a high-level meeting with the managing directors and chief executive officers of public and private banks, as well as insurers, to discuss the preparedness of the financial system in light of the evolving situation. During the meeting, Sitharaman emphasized that the government remains committed to maintaining national security and economic stability, reassuring that the country’s banking and financial system continues to be robust and resilient.

The Finance Minister instructed banks to prioritize seamless services for citizens and businesses, with a particular focus on ensuring uninterrupted access to cash at ATMs, as well as ensuring the continued functionality of digital services like Unified Payments Interface (UPI) and internet banking. She emphasized that no service disruptions should occur under any circumstances and directed banks to be fully alert and prepared to manage any crises. Banks were also advised to update and test their emergency protocols to handle any contingencies that may arise, especially in border areas.

To further strengthen the system, Sitharaman directed banks to designate two senior officials at their headquarters: one to handle cybersecurity matters and the other to monitor operational issues, including ATM cash availability and branch functioning. These officials are required to report incidents to the Indian Computer Emergency Response Team (CERT-In) and other relevant agencies on a real-time basis. Coordination between banks, the Reserve Bank of India (RBI), CERT-In, and other government bodies is to be maintained to ensure effective information sharing and incident response.

In the meeting, bank officials assured the Finance Ministry that cybersecurity measures have been significantly reinforced, including the implementation of anti-DDoS systems to prevent large-scale cyberattacks. Mock drills covering cybersecurity and disaster recovery scenarios have been conducted at the highest levels. Additionally, the Security Operations Centres and Network Operations Centres are operating at full capacity and working closely with government agencies to ensure a robust and responsive security framework. Sitharaman also highlighted the need to ensure the safety of bank employees, particularly in border areas, and instructed banks to coordinate with security agencies to safeguard their staff.

Go!