Concerned over the growing instances of cyber frauds, the finance ministry on Tuesday asked public sector banks (PSBs) to align their digital and cybersecurity frameworks with industry best practices and ensure customer protection and operational continuity as top priorities.
During a review meeting chaired by the Department of Financial Services (DFS) Secretary M Nagaraju, discussions were held on enhancing the robustness of PSBs, building on recent financial achievements, and addressing strategic challenges with key focus on financial performance indicators, assets and liabilities management, cyber resilience, and digital payments infrastructure.
The secretary exhorted the public sector banks (PSBs) to accelerate the pace of lending to agriculture and MSMEs as well as deepen financial inclusion.
PSBs were asked to continue strengthening their financial and operational frameworks, particularly in light of the evolving market dynamics and cyber security needs, the finance ministry .
