Search
Close this search box.

We are creating some awesome events for you. Kindly bear with us.

Boosting Cyber Defences in India’s Financial Sector

Getting your Trinity Audio player ready...

In a strategic move to bolster India’s financial sector against cyber threats, the Indian Computer Emergency Response Team (CERT-In) has signed a Memorandum of Understanding (MoU) with a global financial organisation. This collaboration aims to leverage the shared expertise of both entities to enhance cybersecurity incident response and resilience within the financial sector.

Image credits: Press Information Bureau

CERT-In, a government organisation under the Ministry of Electronics and Information Technology, has been designated as the national agency for incident response under Section 70B of the Information Technology Act, 2000. The MoU marks a significant step in promoting cooperation and information sharing in cybersecurity, specifically targeting the financial sector.

The collaboration will focus on several key areas, including cybersecurity incident response, capacity building, sharing cyber threat intelligence, and advanced malware analysis. By combining their expertise, CERT-In and the global financial organisation aim to create a robust framework for addressing cybersecurity threats that affect financial institutions.

As part of the MoU, CERT-In and the global financial organisation will conduct training programmes and workshops to build cyber capacity within the financial sector. These initiatives will cover the latest market trends, best practices, and emerging threats, equipping financial sector organisations with the knowledge and tools needed to enhance their cybersecurity posture.

Training will be designed to address the specific needs of the financial sector, focusing on practical skills and strategies to mitigate cyber risks. By fostering a culture of continuous learning and improvement, the partnership aims to create a more resilient financial ecosystem in India.

A critical component of the MoU is the sharing of relevant cyber threat trends, technical information, threat intelligence, and vulnerability reports. This exchange of information will enable both entities to stay ahead of emerging threats and enhance their ability to respond effectively to cyber incidents.

By sharing real-time intelligence and insights, CERT-In and the global financial organisation can collaboratively develop and implement strategies to protect financial institutions from sophisticated cyber attacks. This proactive approach will help safeguard India’s financial sector against evolving cyber threats and ensure the stability and security of digital financial services.

Jitin Prasada, Minister of State in the Ministry of Commerce & Industry and Electronics and Information Technology, emphasised the importance of cybersecurity in today’s digital age. “Cybersecurity is the need of the hour, and…the government is committed to ensuring that people on digital platforms are secure. This partnership is an important milestone that will benefit not only both entities but also the public at large.”

The government’s commitment to enhancing cybersecurity reflects its broader vision of creating a secure and resilient digital ecosystem in India. The collaboration is a testament to this commitment, demonstrating a proactive approach to addressing cyber threats and protecting the interests of citizens and businesses.

The global financial organisation brings a comprehensive approach to security, providing its partners and customers with deeper visibility into cyber risks and greater adaptability and resilience. By utilising the latest AI technology and innovative solutions, the company is well-equipped to protect financial systems and enhance cybersecurity measures.

The Indian Computer Emergency Response Team (CERT-In) is a government organisation under the Ministry of Electronics and Information Technology, serving as the national agency for incident response. CERT-In operates a 24/7 help desk for timely cybersecurity incident responses and offers incident prevention, response services, and security quality management to enhance India’s cybersecurity framework.

The MoU between CERT-In and the global financial organisation represents a significant milestone in enhancing cybersecurity in India’s financial sector. Through joint efforts in capacity building, information sharing, and the implementation of advanced technologies, the partnership aims to create a more secure and resilient financial ecosystem. This collaboration underscores the importance of public-private partnerships in addressing cyber threats and safeguarding the digital economy.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit www.ibm.com