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States » WestPosted at: Dec 7 2018 6:41PM


Cyber security awareness program for cooperative banks organised in Gujarat

Ahmadabad, Dec 7 (UNI) A cyber security awareness programme for various co-operative banks was organised here on Friday in the wake of the recent directives of the Reserve Bank of India (RBI) asking all the banks to comply with its guidelines by January 19 next year.
CEO of Acute Informatics Ltd, that provides core banking solution to altogether 110 cooperative banks, Chirag K Patel informed newsmen that while the bigger banks like SBI were more prepared against the cyber threats that could do both monetary as well as customer data theft like like harms. 'The smaller banks especially the cooperative sector banks which are also adopting new technologies and net banking etc were lagging far behind and need greater awareness and pro active steps,' he said.
'Cyber attacks have become a major threat in IT operations of an organization particularly banking and financial organizations.This has made banks more vulnerable to cyber attacks, more particularly Urban Cooperative Banks. This is because the level of technology adoption is also different across the banks in this sector – major banks are offering state of the art Core Banking Solutions alongwith digital products like Cheque Truncation System (CTS) , RTGS/NEFT , Mobile Banking & Net Banking , to its customers. Urban Co-Op. Banks have to embrace technology to stay competitive as part of their go-to-market strategy thus making them more vulnerable to Cyber threats/attacks,' he said.
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