Finance Minister Nirmala Sitharaman will review the cyber preparedness of banks and financial institutions amid rising cyberattack threats linked to India-Pakistan tensions. Key financial bodies and cybersecurity agencies will assess protection measures for critical infrastructure.

On the evening of May 9, 2025, Finance Minister Nirmala Sitharaman will preside over a review meeting to evaluate the cybersecurity readiness of India’s banks and financial institutions. This occurs at a time when worries about the possibility of cyberattacks are growing, particularly in light of the escalating hostilities between India and Pakistan.

The Reserve Bank of India (RBI), the National Payments Corporation of India (NPCI), the Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), public and private banks, and the Indian Computer Emergency Response Team (CERT-In) will all be represented at the meeting.

In order to guarantee that vital infrastructure, including financial services, is safe from cyberattacks, Cert-In has been actively collaborating with many industries.

WHAT MAKES THIS MEETING ESSENTIAL?

The review meeting is taking place in the midst of increased concerns that cyberattacks could target India’s critical systems, such as the banking and financial industries.

There is always a chance that cyber operations could be utilised as a means of disruption or retaliation when nations are involved in hostilities. In response, India has been stepping up its cybersecurity efforts, and the meeting with the finance minister shows how much the government values maintaining the security of the financial system.

Cyberattacks can take many different forms, from system interruptions to data breaches. Even a small interruption can have a big impact on financial organisations’ finances and reputation, influencing anything from transactions to client confidence.

To make sure that the nation’s financial systems are robust against potential cyberattacks, the Ministry of Finance and other important organisations are treating this threat seriously.

Increasing hostilities between Pakistan and India

The review meeting’s timing is related to the escalating hostilities between Pakistan and India. According to reports, the Pakistan Armed Forces broke ceasefire accords in Jammu and Kashmir and carried out drone operations along India’s western border on May 8, 2025. The likelihood of additional military measures increased as a result of these escalations, which came after India launched targeted attacks on nine places in Pakistan and Pakistan-occupied Kashmir (Pok).

Despite being military, these innovations have broader security ramifications, such as the possibility of cyberwarfare. India is carefully preparing for potential threats to its vital infrastructure, especially the financial sector, as cyberattacks can be an indirect form of revenge in such confrontations.