Finance Ministry Urges Banks to Prioritize Cybersecurity and Boost Lending to Agriculture and MSMEs

The Finance Ministry has prioritized strengthening cybersecurity in public sector banks to address the growing threat of digital fraud. In a recent review led by the Department of Financial Services, banks were instructed to align their digital frameworks with global best practices, ensuring customer protection and operational continuity. Alongside cybersecurity, the ministry emphasized accelerating lending to agriculture and MSMEs to promote economic growth and resilience.

The ministry underscored the importance of deepening financial inclusion, urging banks to expand access to services for underserved communities. Progress on flagship schemes such as Pradhan Mantri Mudra Yojana and Atal Pension Yojana was also reviewed. Banks were encouraged to adopt technological advancements, improve HR practices, and enhance customer experiences. These measures aim to ensure robust banking operations while addressing both strategic challenges and evolving digital threats .