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Under India’s G20 Presidency, the Reserve Bank of India (RBI), in collaboration with the Indian Computer Emergency Response Team (CERT-In), Ministry of Electronics and Information Technology, organized an international conference on “Cyber Security Exercise for Banking Sector” in Mumbai on June 5, 2023.
The conference featured a Keynote Address by Shri M K Jain, Deputy Governor, RBI, who highlighted that managing cyber risks has become a critical driver for financial stability. He emphasized the importance of global collaborative efforts in strengthening cybersecurity and outlined six strategic approaches for the international community.
Dr. Sanjay Bahl, Director General, CERT-In, discussed three key global challenges in countering cyberattacks and underscored the role of cyber drills and exercises in building international cooperation and preparedness.
The conference also featured addresses from Mr. Tamas Gaidosch, Senior Financial Sector Expert, IMF, and Dr. David Whyte, In-Charge, Cyber Resilience Coordination Centre, BIS, providing insights on transnational cyber threats and emerging best practices.
A panel discussion on transnational cybersecurity challenges in banking was held, alongside strategic and operational cyber exercises. Participants deliberated on modern cybersecurity threats faced by banks worldwide and methods to strengthen institutional resilience.
The event saw participation of over 200 delegates, including officials from RBI, MeitY, IMF, BIS, central banks, CERTs of G20 member countries, MDs & CEOs of commercial and urban cooperative banks, and Chief Information Security Officers (CISOs) and Chief Technology Officers (CTOs) from Indian and foreign banks.
The conference reinforced the need for coordinated global action and knowledge-sharing to enhance cybersecurity in the banking sector.
[RBI]