The finance ministry said the meeting was held in light of emerging threats due to geopolitical tensions
India’s finance minister, Nirmala Sitharaman, on Friday urged banks and insurance firms to remain fully alert and prepared for potential cyber-attacks, as tensions rise along the border. Senior executives from public and private financial institutions assured the minister that they are equipped to counter any threats, including those from Pakistani hacker groups.
During a high-level meeting in Delhi, Sitharaman was briefed by managing directors and chief executives from banks and insurance companies on their cybersecurity readiness. Financial institutions said they had conducted mock drills covering disaster recovery and cyber-attack scenarios. They also confirmed that anti-DDoS systems were in place and that phishing attempts were being closely monitored.
The finance ministry said the meeting was held in light of emerging threats due to geopolitical tensions. Officials from the Reserve Bank of India, the Insurance Regulatory and Development Authority of India, the National Payments Corporation of India, CERT-In, and the Department of Financial Services were also in attendance.
Sitharaman directed banks to continue providing uninterrupted services in coordination with regulators and security agencies, especially in remote and border areas. She also asked insurance firms to ensure timely claim settlements and consistent customer support.
The minister stressed the importance of emergency protocols, urging banks to update and test them regularly. Special concern was raised over the safety of employees in sensitive areas, with Sitharaman instructing banks to coordinate with security agencies to protect staff and their families.
Additional directives included ensuring cash availability at ATMs, uninterrupted digital services such as UPI and internet banking, and continued access to essential facilities. Banks were also told to conduct regular audits of their cybersecurity infrastructure and ensure round-the-clock monitoring.
Executives informed the finance minister that their security operations centres (SOCs) and network operations centres (NOCs) were fully operational and working closely with CERT-In and the National Critical Information Infrastructure Protection Centre.
Sitharaman instructed banks to appoint two senior officials at their headquarters — one responsible for cyber-related matters and another to oversee operations, including branch functions and ATM services. These officials are to report any incidents in real time to relevant agencies and the finance ministry.
The minister reaffirmed the government’s commitment to national security and economic stability, saying India’s banking and financial systems remain robust and resilient in the face of any threat.
