FM directs seamless cash availability at ATMs, uninterrupted UPI, Internet banking services, and access to essential banking facilities

STC NEWS DESK
NEW DELHI, MAY 12 (STC): In light of emerging security concerns arising from tensions at the border, Union Finance Minister Nirmala Sitharaman has directed banks and other financial institutions to prioritise seamless cash availability at ATMs, uninterrupted Unified Payments Interface (UPI) and Internet banking services, and continued access to essential banking facilities.
At the same time she directed them to ensure that all digital and core banking infrastructure was fully firewalled and monitored round the clock to prevent breaches or hostile cyber activity.
The Finance Minister stated this while chairing a high-level meeting with the managing directors and CEOs of public and private banks and insurers on Friday. She reiterated that the government was firmly committed to national security and economic stability, noting that the country’s banking and financial system remains robust and resilient.
She instructed banks to ensure that citizens and businesses do not face service disruptions under any circumstances.
The FM directed all banks to remain fully alert and prepared to deal with any eventuality or crisis, ensuring uninterrupted access to banking & financial services for citizens across the country, especially in border areas. Sitharaman remarked that banking services, both physical and digital, must function without disruption and glitches, and emergency protocols should be updated and tested to handle any arising contingencies,’ the finance ministry said in a statement.
The FM also instructed banks to designate two senior officials at their headquarters — one to report all cyber-related matters and the other to oversee operational matters, including the functioning of bank branches and ATM cash availability.
“These officials should report any incidents to CERT-In or relevant agencies and to the DFS on a real-time basis,” the ministry said.
“Banks were also asked to coordinate in real time with the RBI, CERT-In, and other relevant government agencies to ensure robust and agile information exchange and incident response.”
The FM also directed insurers to ensure timely claim settlements and uninterrupted customer services. She asked the sponsor banks to ensure that regional rural banks are well-supported during these times and hand-hold them for any issues that they are facing. (Inputs from agencies)