New Delhi: Finance Minister Nirmala Sitharaman has directed all banks to remain on high alert and fully prepared to handle any crisis as tensions between India and Pakistan escalate.
“All banks to remain fully alert and prepared to deal with any eventuality or crisis, ensuring uninterrupted access to banking and financial services for citizens and businesses,” Sitharaman said after a high-level meeting held in New Delhi on Friday.
The meeting included top officials from public and private sector banks as well as insurance companies.
The directive comes a day after India successfully intercepted multiple missile and drone attacks launched from Pakistan late on May 8. While India reported no major damage, the government has since asked all critical institutions to bolster their cybersecurity infrastructure in anticipation of potential retaliatory attacks—digital or otherwise.
Sitharaman’s review meeting focused heavily on the cybersecurity preparedness of India’s financial institutions. Bank chiefs confirmed that anti-DDoS (Distributed Denial-of-Service) systems were already in place, and mock drills for cyber resilience had been conducted. Measures are also being taken to counter phishing attempts, with internal advisories issued to boost staff vigilance.
The finance minister specifically stressed the importance of uninterrupted digital services, such as UPI, internet banking, and ATM cash access. “Both physical and digital banking services must function without disruption,” she said, adding that emergency protocols should be reviewed and tested immediately.
India’s digital payment ecosystem, led by the National Payments Corporation of India (NPCI), has become a cornerstone of daily financial transactions, clocking 17–18 billion mobile transactions each month, amounting to around Rs 24 lakh crore.
Sitharaman noted that any disruption in this infrastructure could have widespread economic repercussions.
Another key concern raised during the meeting was the safety of bank employees, especially those stationed in sensitive border regions. Sitharaman asked banks to stay in close coordination with local law enforcement and security agencies to ensure staff protection and operational continuity.
The developments follow a period of heightened tension along the Line of Control (LoC), culminating in “Operation Sindoor,” India’s countermeasure to recent terror activity in Pahalgam. As geopolitical volatility spills into economic and cyber domains, the Centre is making it clear that India’s financial backbone must remain resilient and responsive.
