New Delhi, 12 June (IANS). The National Payments Corporation of India (NPCI) and the Institute for Development and Research in Banking Technology (IDRBT) on Thursday signed an MoU to strengthen cyber security in India’s rapidly growing digital payment ecosystem.
The objective of this partnership is to improve the security of digital transactions by focusing on training, awareness and proactive risk management.
NPCI MD and CEO Dilip Asbe said that this cooperation with IDRBT is a step towards strengthening cyber security through technology as well as people and preparations.
He insisted that training, certification and shared intelligence information will play an important role in increasing security standards.
IDRBT Director Dr. Deepak Kumar said that the institute has always worked towards helping banking and finance sector to adopt technology.
He said that this formal partnership will promote security awareness and will create a strong response system in digital payment ecosystem.
Under the MoU, both organizations will jointly present special training programs for technology and cyber security professionals in the banking and digital payment sector.
These programs will cover important areas such as cyber security and data privacy. A new NPCI-Certified Payment Security Certification Program will be launched under the partnership.
This certification will be designed to meet the latest industry requirements and regulatory expectations, which will help professionals update with new hazards and best practices.
Additionally, IDRBT will expand its cyber threatement service platform to NPCI and its partner organizations.
This service will provide intelligence information on relevant danger to prevent cyber attacks in digital payment networks in real time and strengthen defense mechanism.
This partnership has taken place at a time when digital payment platforms like UPI are growing rapidly in India and its use is increasing.
In FY 2024-25, digital payment increased by 35 percent on an annual basis and reached 60.81 crore transactions per day, with UPI’s contribution 83.73 percent.
-IANS
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