There has been an increase in ransomware cases in banks, and data exfiltrated from such attacks and made available in dark webs pose serious concerns, the Reserve Bank of India (RBI) has informed a parliamentary panel.
However, restoration of services after ransomware attacks does not get affected in banks because they have offline backups, the central bank told the Parliamentary Standing Committee on Finance.
Sharing the details of the meetings, Sinha said India is seen as a leader in digital innovation and digital inclusion. As a result, the volume of financial transactions across various services, including payments, loans, and issuing of credit, has skyrocketed.
