Banks Urged to Strengthen Cyber Defenses Amid Rising Threats
Financial Services Secretary M Nagaraju emphasized the critical need for banks to enhance their cybersecurity measures against increasing cyber threats. Addressing a hackathon award ceremony at PNB headquarters, he underscored the significance of cybersecurity in banking, aligning with national objectives to fortify digital defences.
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Amid escalating cyber threats, Financial Services Secretary M Nagaraju has urged banks to reinforce their cybersecurity defences. Speaking at a prize distribution event for the 'Code Against Malware' hackathon held at PNB headquarters, he spotlighted cybersecurity's growing significance within the banking industry.
Launched in December 2024, the hackathon attracted student teams from elite institutions like IIT Kanpur to devise endpoint security solutions. These solutions focus on using behavioural analysis, artificial intelligence, and heuristic techniques to detect ransomware.
The initiative, conducted in partnership with IIT Kanpur and other entities, aims to foster cybersecurity innovation and involves India's promising technical talent. PNB MD and CEO Ashok Chandra reiterated the bank's dedication to innovation and collaboration in fortifying cyber infrastructure.
(With inputs from agencies.)
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