With the objective of tackling the growing menace of cyber fraud and data breaches, the Finance Ministry and the Reserve Bank of India (RBI) have scheduled a pivotal meeting on November 28, involving representatives from the banking and fintech domains.
According to a report by CNBC-TV18, the meeting will be headed by the Secretary of the Department of Financial Services (DFS), and will witness the participation of entities such as the National Payments Corporation of India (NPCI), Ministry of Electronics and Information Technology, Ministry of Home Affairs, DoT, Telecom Regulatory Authority of India (TRAI), Unique Identification Authority of India (UIDAI), and FIU officials.
Among the banks, SBI and BoB management are also expected to attend the meeting.
The meeting is anticipated to delve into the alarming rise of digital payment fraud and the complex challenges in curbing these illicit activities. The recent upsurge in cyber threats underscores the pressing need for a unified approach to fortifying cybersecurity measures.
Recently, the government also met Google to understand their financial risk mitigation framework.
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