Nirmala Sitharaman urges action after Claude Mythos exposes vulnerabilities
Indian public sector banks are stepping up their cybersecurity game after a new AI tool called Claude Mythos showed it can spot and exploit weaknesses in their systems.
With Finance Minister Nirmala Sitharaman urging quick action, a government panel led by SBI Chairman C S Setty is now figuring out how to keep banking tech safe from these next-level threats.
Indian banks increase IT security spend
Banks like Punjab and Sind Bank and UCO Bank are putting more money into IT security, seeing it as essential, not optional.
As Srinivas L from 63SATS Cybertech puts it, "Banks in India are now entering a phase where they have to see IT spend from a 'cost of running' to a 'cost of surviving' spend."
Since India's financial systems run on older tech that's all connected, upcoming meetings will focus on finding weak spots and deciding where to invest next, all with the goal of keeping your money secure in an age of smart AI hackers.