Finance Minister to review cyber readiness of banks, financial institutions
Finance Minister Nirmala Sitharaman is set to chair a review meeting on Friday evening to assess the cybersecurity preparedness of India's banks and financial institutions. This comes at a time when there are growing concerns about the potential threat of cyber attacks, especially considering the rising tensions between India and Pakistan.The meeting will bring together representatives from several key institutions, including public and private banks, the Reserve Bank of India (RBI), the National Payments Corporation of India (NPCI), the Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), and the Indian Computer Emergency Response Team (Cert-In).Cert-In has been actively working with different sectors to ensure that critical infrastructure, including financial services, is protected from cyber threats.WHY IS THIS MEETING IMPORTANT?The review meeting is being held amid heightened fears that India's vital systems, including the banking and financial sectors, could become targets of cyber attacks.As countries engage in conflicts, there is always the risk that cyber operations could be used as a form of retaliation or disruption. India has been strengthening its cybersecurity measures in response to this, and the Finance Minister's meeting reflects the importance the government is placing on ensuring that the financial infrastructure remains secure.Cyber attacks can take various forms, ranging from data breaches to system disruptions. For financial institutions, even a minor disruption can cause significant financial and reputational damage, affecting everything from transactions to customer trust.The Ministry of Finance, along with other key agencies, is taking this threat seriously and ensuring that the country's financial systems are resilient in the face of possible cyber threats.ESCALATING TENSIONS BETWEEN INDIA AND PAKISTANThe timing of the review meeting is linked to the growing tensions between India and Pakistan. On Thursday night, reports emerged that the Pakistan Armed Forces launched drone attacks along India's western border and violated ceasefire agreements in Jammu and Kashmir. These escalations followed India's targeted strikes on nine locations in Pakistan and Pakistan-occupied Kashmir (PoK), increasing the possibility of further military actions.While these developments are military in nature, they have wider implications for security, including the potential risk of cyber warfare. Cyber attacks can be a form of indirect retaliation in such conflicts, which is why India is proactively preparing for any such threats to its critical infrastructure, including the financial sector.Must Watch
advertisement
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
2 hours ago
- Indian Express
‘India introduced non-violence to the world but…': At Jain seer's centenary celebrations, PM Modi takes jibe at Pakistan
In a veiled warning to Pakistan, without naming the country, Prime Minister Narendra Modi said on Saturday that India had introduced the world to the power of non-violence, but would not allow anybody to meddle with it. PM Modi was speaking at the centenary celebrations of Jain spiritual leader Acharya Vidyanand Ji Maharaj in New Delhi. 'Jo humein chhedega (Those who tease us),' he said, leaving the sentence incomplete amid applause from the crowd. He then continued, 'Even if you did not say it in words, you were perhaps conveying your blessings for Operation Sindoor.' Operation Sindoor was India's military response to the Pahalgam terror attack that claimed 26 civilian lives, believed to have been carried out by Pakistan-backed Lashkar-e-Taiba operatives. PM Modi asserted that India is a country where service and humanity are central to its ethos. 'When for ages, efforts were being made to quell violence with violence, then India introduced to the world the power of ahimsa (non-violence),' he said. 'India is the oldest living civilisation in the world. We are immortal for thousands of years, because our thoughts are immortal, our thinking is immortal, our philosophy is immortal,' he said at the event organised by the Ministry of Culture to mark the year-long centenary celebrations of Jain seer Acharya Vidyanand Ji Maharaj. The source of this philosophy is 'our saints, seers, mahants and acharyas', PM Modi said about the spiritual leader who was instrumental in the restoration and revival of ancient Jain temples across India and worked for education, especially in Prakrit, Jain philosophy, and classical languages. PM Modi asserted that his ideas have inspired the government's welfare schemes. 'Whether it is PM Awas Yojana, Jal Jivan Mission, Ayushman Bharat Yojana, and other such welfare schemes, they signify the sense of service towards the last person in the social hierarchy,' he said. He also underlined that through his literature and music, he had endeavoured to revive the ancient Prakrit language. 'Because of those who neglected their own culture, this language was going out of vogue,' PM Modi said in a reference to the previous governments. 'We took efforts…and last year in October, our government accorded it (Prakrit) the status of a classical language,' he added. 'In our mission to digitise ancient manuscripts, a large section of it includes religious texts related to Jainism and manuscripts associated with acharyas. We want to go ahead on this subject,' he said, adding that mother tongues are being promoted in higher education as well. He also emphasised that his government has vowed to rid the country of the 'slavery mindset'. Divya A reports on travel, tourism, culture and social issues - not necessarily in that order - for The Indian Express. She's been a journalist for over a decade now, working with Khaleej Times and The Times of India, before settling down at Express. Besides writing/ editing news reports, she indulges her pen to write short stories. As Sanskriti Prabha Dutt Fellow for Excellence in Journalism, she is researching on the lives of the children of sex workers in India. ... Read More
Hindustan Times
2 hours ago
- Hindustan Times
The New Map of Indian Luxury: Powered by Visa, Driven by Aspirations
Step into a rooftop café in Indore or cruise through Coimbatore's villa-lined enclaves, and you'll notice a quiet transformation taking place. Affluence in India is no longer tethered to its traditional metro strongholds. Visa's recent whitepaper, Bridging the Gap: Payments in India Beyond Metros, brings this evolution into sharp focus. Credit card spending in non-metro cities has surged 4X between 2019 and 2024—outpacing metro growth and signaling a rising tide of premium consumption. Visa Infinite caters to the new affluent class by offering personalised services and seamless experiences. In fact, users in Tier 2 and 3 cities are now spending over ₹ 2 lakh per card annually—more than three times the metro average. This isn't just economic expansion—it's a recalibration of where, and how, luxury is defined in India. Today, the new luxury story is being written in non-metro India — by a generation that's ambitious, digitally fluent, and seeking more than just status. They're after curated privileges, intuitive access, and security. And Visa is empowering them with personalized offerings that match their pace and priorities —not just by offering access, but by elevating each experience. Visa Infinite: Luxury Tailored for India's New Affluent As affluence grows beyond metros, consumer expectations are evolving. Today's premium customer is not only looking for elevated products but also for experiences that are seamless, secure, and deeply personal. For this rising class of affluent Indians, Visa Infinite is more than a payment card—it's a gateway to a lifestyle where convenience meets exclusivity. Visa Infinite brings together a global ecosystem of premium services designed for those who value thoughtful luxury and effortless living. Whether it's 24/7 concierge services or Visa's Meet and Greet service—offering travelers a smooth, queue-free airport journey from arrival to boarding—Visa Infinite is built to anticipate and respond to the needs of high-frequency travelers. Cardholders can access curated menus and exclusive dining privileges through the Dine with Visa program, which offers gastronomic experiences at select fine-dining restaurants. Those looking to unwind enjoy extended-stay offers and bespoke hospitality experiences across multiple ITC Hotels properties and ELIVAAS-managed premium stays, ensuring every stay feels like a retreat designed just for them. Security That Matches the Stakes Unrestricted access only matters when backed by uncompromising trust. As high-value transactions grow—across luxury travel, fine dining, and premium retail—the need for invisible, intelligent security has never been greater. Visa's cybersecurity infrastructure works quietly behind the scenes, protecting every transaction without disrupting the experience. From tokenized payments mandated by the Reserve Bank of India, which mask sensitive data, to AI-powered tools that detect and stop fraud in milliseconds, Visa's layers of security are engineered to match the expectations of a high-trust environment. Over the last five years, Visa has invested more than $12 billion in technology to ensure payments remain not just fast and convenient, but safe and resilient. This includes the formalisation of a dedicated Scam Disruption Practice, which alone helped prevent over $350 million in losses globally last year. That's in addition to the $40 billion in fraud attempts blocked by Visa's Payment Ecosystem Risk and Control framework. A Global Network That Moves With You Spending by India's upwardly mobile consumers now extends far beyond national borders. At the recent Coldplay concert in the UAE, in-person spending by Indian Visa cardholders jumped by 70%—a clear signal that global experiences are no longer rare indulgences; they're a growing part of India's luxury vocabulary. Visa's network spans more than 200 countries and territories, and its four-decade presence in India allows it to tailor global innovation for local relevance. From contactless payments to co-branded cards crafted for the Indian premium consumer, Visa continues to fuel this outward lifestyle with seamless, secure, and scalable experiences. The Real Luxury? Choice In this new landscape, luxury is no longer about accumulation — it's about freedom and access. Whether that means a Visa Infinite cardholder enjoying bespoke concierge support and global privileges, or a Visa Signature user unlocking domestic travel benefits, extended warranties, and exclusive offers — the idea is simple: luxury should meet you where you are and grow with you. According to the Knight Frank Wealth Report 2025, India is home to 85,698 high-net-worth individuals (HNWIs), making it the fourth-largest HNWI population globally— and this number is only expected to grow. But the real momentum lies in the rise of aspirational affluents from cities once considered peripheral. They're no longer waiting for luxury to find them—they're defining it on their own terms. And Visa, with its global expertise and local understanding, is enabling them to do just that — one seamless, secure, and elevated experience at a time. Note to the Reader: This article has been produced on behalf of the brand by HT Brand Studio and does not have journalistic/editorial involvement of Hindustan Times.
India.com
2 hours ago
- India.com
Pakistan rebuilding terror camps, launchpads near LoC destroyed in Op Sindoor, they are hidden deep inside forests, can block heat sensors, radar, locations are…
9 targeted terror camps in 25 minutes: Army shows pictures of sites that were destroyed during Operation Sindoor Pakistan is trying to rebuild terrorist bases and training camps that were destroyed by the Indian Army during Operation Sindoor in May, according to reports. This operation was launched after a deadly terror attack in Pahalgam. Reports say that the Pakistani Army, its spy agency ISI, and the government are fully supporting and funding this effort. These new terror setups are mainly being rebuilt in Pakistan-occupied Kashmir (PoK) and nearby areas. On May 7, Indian forces carried out precise attacks on nine terror camps in Pakistan and PoK. These camps were linked to three well-known terrorist groups: Jaish-e-Mohammed (JeM), Lashkar-e-Taiba (LeT), and Hizbul Mujahideen. One of the most important targets was the JeM headquarters in Bahawalpur, which is believed to be the main control centre for their operations. Pakistan rebuilding terror camps and launchpads near LoC According to intelligence reports, Pakistani terror groups, with help from the ISI, are setting up smaller, high-tech training camps hidden deep inside forests near the Line of Control (LoC). Sources told India Today that it is meant to avoid detection by drones, satellites, and airstrikes. The camps being rebuilt are located in places like Luni, Putwal, Taipu Post, Jamila Post, Umranwali, Chaprar, Forward Kahuta, Chota Chak, and Janglora. These camps are reportedly being fitted with modern tools that can trick or block heat sensors, radar that can see through trees, and satellite cameras. Sources also told the publication that the Pakistani Army and ISI are restoring 13 major launchpads in Pakistan-occupied Kashmir (PoK). These include locations such as Kel, Shardi, Dudhniyal, Athmuqam, Jura, Leepa Valley, Pachiban Chaman, Tandpani, Naiyali, Jankot, Chakoti, Nikail, and Forward Kahuta. On top of that, four launchpads along the International Border, which were destroyed during India's Operation Sindoor, are now being brought back into use. These sites are said to include regular Pakistan Rangers outposts. New ISI strategy along the International Border As part of a new plan, ISI is breaking up large terror camps into smaller ones. This tactic is meant to spread out militants so that if one camp is attacked, the others won't be affected. Each of these smaller camps will have its own security setup. According to reports, specially trained Pakistani Army personnel will guard these camps using thermal sensors, low-frequency radar, and anti-drone systems. High-level terror meeting in Bahawalpur Indian intelligence agencies have reportedly intercepted messages about a recent secret meeting in Bahawalpur. Senior leaders from terrorist groups like Jaish-e-Mohammed, Lashkar-e-Taiba, Hizbul Mujahideen, and The Resistance Front (TRF) attended, along with top ISI officers. TRF is the group behind the April 22 Pahalgam attack in Jammu and Kashmir that killed 26 people. At this meeting, ISI reportedly promised heavy financial and manpower support to rebuild terror bases destroyed earlier. Reports say that repair work has already started at multiple places and that new, more secure camps are also being planned.
