New Delhi: The Centre on Friday asked banks and RBI to submit report on the nature of security breach on the debit card fraud in which over 32.5 lakh cards in the country were compromised and sought details about preparedness to deal with cyber crimes.
There is a fear that this breach could threaten the Narendra Modi government’s campaign to make India a cashless economy as people may become reluctant to use debit and credit cards and internet banking to do transactions after this serious security breach. An international firm Payment Card Industry Security Standard Council is reported to be conducting a forensic audit of the security breach and it is likely to submit a report by month end. An initial report has already been submitted to the government which is under examination.
