India is facing 20 billion cyber threats per day and the Banking and Financial Services Industry (BSFI) is facing 24% of it, according to Cisco India and SAARC President Sameer Garde.

Speaking at the two-day Cisco India Summit 2018 - with the theme ‘The Future. Reimagine’ - here, he said digital transformation of India's banking system has brought high risk to the industry.

"Indian banks face heavy threats across the country, as 800 million accounts are linked and we are giving end-to-end solutions to contain it," he said.

Garde said that Cisco has built the Talos team to protect an organisation’s people, data, and infrastructure.

"Our researchers, data scientists, and engineers collect information about existing and developing threats. We then deliver protection against attacks and malware. Talos underpins the entire Cisco security ecosystem," he said.

The Cisco India head also said the digital transformation will make another gold rush in the business. "The Gold Rush of 1849 was only $200 million and this 'Digital Rush' will create $80 trillion. Here, everything we can think of will become digitised," he said.

"India is going to be a $6-trillion economy by 2020. In India, this growth will be very high as the data access to citizens is growing at a faster pace, with the New Telecom Policy as it is connecting all gram panchayats in the country with cheap internet connectivity," he said.

He said that Cisco is relevant in this journey as the company is very much engaged in the network business. "The network is important as it helps in unlocking the power of data and it will have time value by extracting info out of it. It is no longer on premise or on cloud environment. It is all about multi-cloud environment," he said.

Garde also said that the company will ensure security to the data, so that every employee can increase his productivity and all clients will enhance their performance.