FM NIRMALA Sitharaman directs banks to stay at maximum alert amid for Pakistani’s emerging tensions

With the escalation of tensions between India and Pakistan, Finance Minister Nermalla Sitramman called on all banks to be fully prepared to deal with any unexpected positions. “All banks must remain at full alert and prepare to deal with any possibility or crisis, which ensures access without interruption to banking and financial services for citizens and companies,” Ceramman stressed in a recent statement.

On Friday, FM Sitharaman held a high -level meeting with senior officials in both public banks, the private sector and insurance companies. The meeting focused on reviewing the preparation for cybersecurity for the banking sector to ensure banking services without interruption among India’s tensions.

The Minister of Finance affirmed that both material and digital banking services must work without disruption, and ensure the availability of cash in ATMs, continuous banking services, online banking services, and access to other basic banking facilities. Emergency protocols should be updated and tested to manage any emergency situations effectively.

Sitharaman also expressed concern about the safety of bank employees in the border areas and the banks to coordinate with security agencies to protect them.

India has witnessed a revolution in digital payments, as the National Payments Corporation in India (NPCI) plays an important role in supporting this digital infrastructure. The country is witnessing approximately 17-18 billion mobile payment transactions every month, totaling about 24 rupees.

Cyber ​​security measures

During the meeting, the bank’s leaders highlighted that cybersecurity measures were greatly strengthened through the banking system. DDOS control systems have been implemented to protect against electronic attacks on a large scale. Banks also carried out fake training for cybersecurity and disaster recovery to ensure preparation. Especially focused on monitoring hunting attempts, with internal alerts to enhance employee awareness.

Sitharaman emphasized the decisive role of the banking sector in maintaining economic stability during these volatile times. All banks have been directed to stay at full alert and prepare to deal with any crisis, which ensures access without interruption to banking services for both citizens and companies, especially in the border areas.

India has successfully defended many missile attacks and drones from Pakistan on the night of May 8. After that, the government issued instructions to the main institutions to enhance cybersecurity measures for critical banking systems and payment infrastructure, such as basic banking systems, payment gates, total settlement systems in actual time, and the interface of unified payments (UPI).