Banks need to build resilience against cyber threat: DFS Secretary
Secretary
M Nagaraju
on Saturday cautioned banks to bolster their defences against the growing menace of
cyber threats
.
Speaking at a prize distribution ceremony of the 'Code Against Malware' hackathon at
PNB headquarters
here,
Nagaruaju
highlighted the growing importance of cybersecurity in the banking sector.
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Such initiatives align with the national goal of building resilience against emerging digital threats, he said.
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Undo
Launched in December 2024, the 'Code Against Malware' hackathon invited student teams from
IIT Kanpur
and other premier institutions to develop endpoint security solutions to detect ransomware, using behavioural analysis, artificial intelligence, and heuristic techniques.
The hackathon was conducted in collaboration with the
IIT
Kanpur, under the guidance of the Department of Financial Services (DFS) and the Indian Banks' Association (IBA), with the objective of fostering innovation in cybersecurity and engaging India's young technical talent.
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PNB MD and CEO Ashok Chandra, in his remarks, underscored the institution's commitment to driving innovation, strengthening cyber defences, and promoting collaboration between industry and academia.
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