FM Nirmala Sitharaman.
Credit: PTI Photo
New Delhi: Union Finance Minister Nirmala Sitharaman on Friday asked banks to remain fully alert and prepared to deal with any eventuality or crisis amid escalating tensions between India and Pakistan.
The minister convened a high-level meeting with the managing directors and CEOs of public and private sector banks and insurance companies. Senior officials from the Department of Financial Services, Computer Emergency Response Team (CERT-In), the Reserve Bank of India (RBI), the Insurance Regulatory Development Authority of India (IRDAI) and the National Payments Corporation of India (NPCI) also attended the meeting.
According to a statement issued by the Ministry of Finance, the meeting focused on reviewing the banking sector's operational and cybersecurity preparedness, including digital applications such as internet banking and UPI.
The Finance Minister directed all banks to remain fully alert and prepared to deal with any eventuality or crisis, ensuring uninterrupted access to banking & financial services for citizens across the country, especially in border areas.
Sitharaman remarked that banking services, both physical and digital, must function without disruption and glitches, and emergency protocols should be updated and tested to handle any arising contingencies.
Banks have been asked to coordinate in real time with the Reserve Bank of India, CERT-In and relevant Government agencies to ensure robust and agile information exchange and response, the ministry said.