FM Sitharaman Reviews UPI, Internet Banking Security Amid Rising Border Concerns

Finance Minister Nirmala Sitharaman chaired a high-level review meeting on UPI and internet banking security following intelligence reports about potential cyber threats from border areas. The meeting focused on strengthening authentication protocols, implementing advanced fraud detection systems, and enhancing coordination between banks and cybersecurity agencies. Key decisions included mandating multi-factor authentication for high-value transactions and creating a rapid response mechanism for cyber incidents. The FM directed RBI and NPCI to conduct security audits of payment infrastructure and implement additional safeguards for cross-border digital transactions while maintaining ease of use.