30th September, 2020

India keen to invest in Cyber Security

Ravi Shankar Prakash, India’s Electronics and IT Minister has recently told the media that his team would be willing to make efforts and participate in cybersecurity research programs.

In his statement, Prakash implied that his ministry is keen to invest funds and boost research and PhD in the field across the Asia Pacific Region.

He further confirmed that the government will give a grant of 5 crores to start-ups who are doing innovation in cybersecurity.

Digital transactions have been the present government focus post demonetisation and since then, it has been decisively investing time and money to reduce digital thefts, frauds or any different form of a digital hack.

After the ransomware attack, the government has been on a proactive lookout for graduate specialising in cybersecurity to guard their massive IT system base. 

Only recently, the Home Minister Rajah Singh on Monday reviewed various measures, including the strengthening of surveillance and legal framework, to deal with financial frauds using bank cards and e-wallets.

The government is currently keeping a tab on the use of cards and especially the e-wallets since there has been a tremendous rise in the use of this two medium to transact in the market.