Department of Financial Services (DFS), Ministry of Finance, organised a half-day symposium on cyber security titled Financial Services Cyber Security (FINSCY) here today. Dr. Vivek Joshi, Secretary, DFS, inaugurated the symposium.

The symposium provided an opportunity for senior officers from Government agencies and Departments, and financial services sector regulators, as also senior executives and CISOs of Banks, Insurance Companies, and FIs to share their ideas, practices, and concerns on cyber security measures currently in place in the financial services sector, the readiness of the sector for future cyber threats and also perspectives on the revised draft Digital Personal Data Protection Bill.

The symposium was attended by senior officers of the Department of Financial Services, Ministry of Electronics and Information Technology (MeitY), Ministry of Home Affairs, Government agencies viz., CERT-In, NCIIPC, Indian Cyber Crime Coordination Centre; Regulators in the financial services sector viz., RBI, IRDAI, and PFRDA; Public Sector Banks and Insurers, leading Private Sector Banks and Insurers, and major financial institutions such as NABARD, SIDBI, EXIM Bank and National Housing Bank.

Cyber security readiness in financial services emphasized coordinated preparedness and input on the revised Digital Personal Data Protection Bill. Financial services stakeholders convened to address cyber security preparedness, assess current measures and readiness for emerging threats, and coordinate information sharing and incident response among government agencies, regulators, banks, insurers, and financial institutions. The meeting also solicited sector perspectives on the revised draft Digital Personal Data Protection Bill to align data protection policy with operational cyber security and regulatory oversight.