Last Updated on April 24, 2026 10:40 pm by BIZNAMA NEWS
Our Correspondent / New Delhi
Union Ministers — Nirmala Sitharaman and Ashwini Vaishnaw chaired a high-level meeting with Scheduled Commercial Banks to assess the growing risks posed by emerging developments in Artificial Intelligence (AI), particularly the potential misuse of such technologies to exploit software vulnerabilities.
During the meeting, the Finance Minister described the threats from new AI models as “unprecedented,” stressing the need for heightened vigilance, preparedness, and stronger coordination across the banking ecosystem. She called upon the Indian Banks’ Association to develop a unified institutional mechanism to ensure swift and effective responses to any cyber threats.
Sitharaman also directed banks to onboard top cybersecurity experts and specialised agencies to continuously upgrade their defence and monitoring systems. Emphasising proactive action, she urged financial institutions to secure IT infrastructure, safeguard customer data, and protect financial assets against potential breaches.
Banks have been instructed to promptly report any suspicious activity or cyber incidents to authorities, including CERT-In, and maintain close coordination with all relevant agencies.
Highlighting the importance of real-time information exchange, the Finance Minister recommended establishing a robust threat intelligence-sharing mechanism among banks, CERT-In, and other stakeholders to detect and respond to emerging risks without delay.