FM Reviews Banking Sector Preparedness

Union Finance Minister Nirmala Sitharaman on Friday convened a high-level meeting with the Managing Directors and CEOs of Public and Private sector banks and insurance companies amidst emerging security concerns arising from tensions at the western border.

- CORRESPONDENT

Senior officials from the Department of Financial Services (Ministry of Finance), CERT-In, RBI, IRDAI and NPCI attended the meeting, which focused on reviewing the banking sector's operational and cybersecurity preparedness, including digital public-facing applications such as internet banking and UPI, as per a statement from the Ministry of Finance.

The Managing Directors and CEOs of all the Banks and Insurance Companies apprised the Union Finance Minister about the measures they are undertaking, given the ongoing tensions at the border.