Evolve foolproof cyber-security mechanism
Cautioning that cyber criminals, backed in some cases by hostile state sponsors and state players might be turning their attention on financial nerve centres in the country, he felt that top managements of business organizations must invest in ‘people, processes and technology’ to ensure the necessary resilience to quickly detect, act and recover from cyber attacks. The Governor was inaugurating the first Cyber Security and Resilience Conference jointly organized by the Bombay Stock Exchange (BSE) and the Securities and Exchange Board of India (SEBI) at the Bombay Stock Exchange in Mumbai. Chairman of BSE S Ramadorai, Chairman of SEBI U K Sinha, R K Agarwal, Whole Time Member of BSE and Ashishkumar Chauhan, MD & CEO of BSE were present. The Governor said, India has nearly 1 billion mobile phone users and nearly 300 million internet users. He said, growing adoption of internet and smart phones and the rising popularity of online banking, online trading and e-commerce has made India one of the most favourite countries for cyber criminals. Governor Vidyasagar Rao expressed the need to ‘educate, inform and sensitize’ people about cyber security, cyber crimes and how to reduce their vulnerability to such crimes. In this connection, he said every academic year in schools and colleges must begin with a specialist talk by experts on cyber security, cyber crime and safe use of internet. The Conference is being attended by representatives of specialized agencies dealing with cyber security, DRDO, Mumbai Police and other organizations.Mumbai: The Governor of Maharashtra Ch Vidyasagar Rao asked financial institutions and business organizations to view to challenge posed by cyber criminals seriously and called for evolving ecosystems to protect the economic integrity of Corporates, Multinational Corporations and business organizations.