In response to escalating tensions between India and Pakistan, Finance Minister Nirmala Sitharaman has directed all banks to remain on high alert and ready to respond to any crisis, ensuring that citizens and businesses continue to have uninterrupted access to essential financial services.
Following a high-level meeting held in New Delhi, which included top officials from both public and private sector banks as well as insurance firms, Sitharaman emphasized the need for full preparedness across the financial sector.
The directive came just a day after India successfully intercepted multiple missile and drone attacks launched from Pakistan on the night of May 8. While no significant damage was reported, the Indian government has since instructed all critical institutions to strengthen their cybersecurity defences, anticipating possible retaliatory strikes – both physical and digital.
Cybersecurity featured prominently in the finance minister’s review meeting. Bank executives confirmed that anti-DDoS (Distributed Denial-of-Service) systems are already operational, and that cybersecurity drills have recently been conducted to assess resilience. Additional safeguards are being implemented to detect and counter phishing attacks, and internal advisories have been circulated to heighten staff awareness.
Sitharaman underscored the critical importance of maintaining seamless access to digital financial services such as UPI, internet banking, and ATM withdrawals.
