E-Paper
Every bank has to upgrade security: Vidyadhar Anaskar, president, Maharashtra Urban Coop Bank Federation
We are helping member banks with new systems and also by sharing information, he says
The cyber theft recorded by Cosmos Bank two years ago, has prompted the Reserve Bank of India (RBI) to ask all the urban cooperative banks to strengthen their cyber security. Vidyadhar Anaskar, president, Maharashtra Urban Cooperative Bank Federation speaks to Hindustan Times regarding the measured that the federation is taking to help the banks in the city to comply the RBI directives.
How many members does the Urban Cooperative Bank Federation have in Maharashtra?
The Urban Cooperative Bank Federation is state centric and has a total of 507 members. The federation helps each member to introduce new technology and also improve coordination.
How is federation helping urban cooperative bank’s in view of the RBI instructions?
The RBI wants each urban cooperative bank to introduce comprehensive cyber security to prevent a Cosmos bank like online attack wherein Rs 90 crore were stolen by hackers. We are helping member banks with new systems and also by sharing information. Whenever we come across any online attack related information, we send alerts to member banks.
How many banks have complied with the RBI order so far?
Information on number of banks complied RBI order may not be available. But eventually, every urban cooperative bank has to follow the suit and upgrade its cyber security within the deadline set by RBI.
