Centre Sets Up Inter-Ministerial Group To Form Financial Cybersecurity Strategy

Amid growing risks posed by AI models and rapid digitisation of banking and payments, the central government has constituted an inter-ministerial group (IMG) to formulate a comprehensive cybersecurity strategy for India’s financial sector. Replying to a question in the Rajya Sabha, finance minister Nirmala Sitharaman said that while the financial sector has benefited from digital public infrastructure, increasing incidences of phishing, ransomware attacks, data breaches, identity theft and cyber