G20: Experts deliberate on cybersecurity exercise for the banking sector

The G20 International Conference on “Cyber ​​Security Exercise for Banking Sector” under the G20 Chairmanship of India was held in Mumbai.

The conference was jointly held by the Reserve Bank of India (RBI), Computer Emergency Response Team of India (CERT-In), Ministry of Electronics and Information Technology (MeitY) on Monday.

The conference began with a keynote address by RBI Deputy Governor MK Jain, followed by a keynote address by CERT-In CEO Sanjay Bahl.

In his speech, the Lieutenant Governor highlighted that cyber risk management has become a key factor in guaranteeing financial stability. He stressed the imperative of global collaborative efforts to strengthen cyber security. He also outlined six specific strategies that the global community could follow.

The Director General, CERT-In, highlighted three global challenges in countering cyber-attacks and also stressed the need for the global community to work together. In addition, he mentioned that “cyber drills and exercises could help build lasting relationships and leverage each other’s strengths to improve preparedness.”

In addition, strategic and operational cyber exercises and drills were also organized as part of the event. Participants held discussions on the new age cybersecurity challenges facing banks globally. The event also had a panel discussion on Transnational Cyber ​​Security Challenges in the banking sector around the world.

More than 200 participants from RBI, MeitY, MFI, BIS, central banks and IT Emergency Response Teams from G20 member countries, CEOs and CEOs of selected commercial and urban cooperative banks, Chief Information Security Officers (CISO ) and chief technology officers (CTOs) from Indian and foreign banks attended the event.