Mumbai, May 12 -- Union Minister for Finance and Corporate Affairs Nirmala Sitharaman, recently convened a high-level meeting with the Managing Directors and CEOs of Public and Private Sector Banks and insurance companies amidst emerging security concerns arising from tensions at the border. Senior officials from the Department of Financial Services (DFS), Ministry of Finance, CERT-In, RBI, IRDAI and NPCI attended the meeting that focused on reviewing the banking sector's operational and cybersecurity preparedness, including digital applications such as internet banking and UPI.

The Managing Directors and CEOs of all the banks and insurance companies apprised the Union Finance Minister about the measures they are undertaking, given the o...