An International Conference on “Cyber Security Exercise for Banking Sector” under India’s G20 Presidency was jointly conducted by the Reserve Bank of India (RBI) and the Indian Computer Emergency Response Team (CERT-In), Ministry of Electronics and Information Technology (MeitY), Government of India (GOI) in Mumbai on June 5, 2023.

2. The conference commenced with a Keynote Address by Shri M K Jain, Deputy Governor, RBI followed by a Special Address by Dr. Sanjay Bahl, Director General, CERT-In. Deputy Governor in his address stressed that managing cyber risks has become a key driver for ensuring financial stability. He emphasised on the imperative for global collaborative efforts for strengthening cyber security and outlined six specific strategies that the global community could follow.

3. Director General, CERT-In highlighted three global challenges in countering cyber attacks and also emphasised on the need for global community to work together. He pointed out that cyber drills and exercises could help in building long lasting relationships and in leveraging each other’s strengths to enhance preparedness.

4. Mr. Tamas Gaidosch, Senior Financial Sector Expert, International Monetary Fund (IMF) and Dr. David Whyte, In-Charge, Cyber Resilience Co-ordination Centre, Bank for International Settlements (BIS) also addressed the participants.

5. The event had a Panel Discussion on Trans - National Cyber Security Challenges in Banking Sector across the Globe. Strategic and Operational Cyber Exercises & Drills were also organized as part of the event. The participants held discussions on the new age cyber security challenges faced by banks globally.

6. More than 200 participants from RBI, MeitY, IMF, BIS, Central Banks and Computer Emergency Response Teams of G20 Member Countries, MD & CEOs of select Commercial and Urban Cooperative Banks, Chief Information Security Officers (CISOs) and Chief Technology Officers (CTOs) of Indian and Foreign Banks attended the event.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/353