New Delhi: Finance Minister Nirmala Sitharaman chaired a high-level meeting with bank leaders to assess rising cybersecurity risks linked to advanced artificial intelligence systems. The discussion comes amid global concerns over powerful AI models and their potential misuse in exploiting digital vulnerabilities within financial systems.
During the meeting, Sitharaman urged banks to adopt proactive measures to secure their IT infrastructure, protect customer data, and safeguard financial assets. She emphasised the need for a robust framework that enables real-time sharing of threat intelligence among institutions and agencies such as Indian Computer Emergency Response Team, ensuring early detection and swift response to cyber threats.
The meeting, which also included Ashwini Vaishnaw, focused on the implications of emerging AI technologies, particularly systems like Claude Mythos developed by Anthropic. The model has raised concerns due to its advanced capability to identify and exploit software vulnerabilities, posing potential risks to global cybersecurity frameworks.
Sitharaman called on the Indian Banks’ Association to establish a coordinated institutional mechanism that can respond quickly and effectively to such threats. Banks were also directed to immediately report any cyber incidents to relevant authorities and maintain close coordination with regulatory and security agencies.
Highlighting the seriousness of the situation, the minister noted that the nature of threats posed by next generation AI systems is unprecedented and requires heightened vigilance, preparedness, and collaboration across the banking sector. She encouraged financial institutions to engage top cybersecurity experts and continuously upgrade their monitoring and defence systems.
Officials indicated that both the finance ministry and the Reserve Bank of India are closely evaluating the extent of risks to India’s financial ecosystem. While current systems remain secure, authorities are conducting thorough assessments to ensure continued resilience.
The discussions reflect growing global awareness around the dual use nature of advanced AI, which, while beneficial, also presents significant challenges if misused.
