India has embarked upon an ambitious transformation journey to realize its vision of a Digital India. Digital and Financial Inclusion are key enablers to march towards a Digitally empowered Society and a Knowledge Economy. With Government and Industry moving towards a 'Less Cash Economy', Digital Payment channels have caught momentum and citizens across the country are adopting various modes of digital payments.
Keeping in view that digital transactions are increasing across India, Cyber Security for the financial sector has assumed significant importance.
NITI Aayog has therefore organized a two days Cyber Security Conclave for the Financial Sector on 21st and 22nd February, 2018. Confederation of Indian Industry (CII) and Observer Research Foundation (ORF) have been associated in organising this conclave. National Security Adviser, Shri Ajit Doval; Member, NITI Aayog Dr. V.K. Saraswat; CEO, NITI Aayog Shri Amitabh Kant; Secretary (MeitY), Shri Ajay Prakash Sawhaney; Chairman NTRO, Shri Alok Joshi and Director (IB), Shri Rajiv Jain participated in the inaugural function. The conclave is being attended by nearly 100 Cyber Security Experts both from the Government and Industry, Representatives from law enforcement agencies, Senior IT experts from Banking sector including Reserve Bank Information Technology Pvt Ltd (ReBIT), State Bank of India, United Bank of India and HDFC Bank and Startups engaged in the field of Cyber Security sector.
Dr. V.K. Saraswat, Member, NITI Aayog delivered the key note address highlighting the areas of concern and issues involved in the Cyber Security domain to set the tone for the conclave. The presentation of Dr. Saraswat has been uploaded on http://niti.gov.in/presentations#. A series of discussions are being held in various technical sessions on important themes addressing various challenges in the cyber security domain to provide direction and suggest measures to strengthen the Cyber security infrastructure in the country. During the day one, discussions have been held on the following key topics:
- Cyber Space threats and opportunities – Current technologies status review.
- Security Testing, evaluation, assurance and certification frameworks and technologies
- Infrastructure security
- Critical Information Infrastructure threats and challenges in the Banking and Financial Sector
- Critical Information Infrastructure protection in the Banking and Financial Sector.
Many important suggestions have emerged during these discussions. These discussions would be continued on day two on (i) Challenges faced by Academia, Startups and Government in creating a cyber security eco-system, (ii) New security paradigms such as post quantum cryptography, quantum cryptography and key distribution, quantum computing and communication etc., (iii) Big data analytics and monitoring solutions for social media and dark web and (iv) Sharing experiences by law enforcement agencies from States/UTs.