In a significant step towards strengthening cybersecurity in India’s financial sector, the Indian Computer Emergency Response Team (CERT-In) and Mastercard India have signed a Memorandum of Understanding (MoU). This collaboration aims to leverage the combined expertise of both entities to enhance the country’s ability to respond to cybersecurity incidents effectively.
As part of the mutual understanding, Mastercard and CERT-In will hold training programs and workshops for cyber capacity building, latest market trends and best practices to enhance cybersecurity of financial sector organizations. The two entities will also share relevant cyber threat trends, technical information, threat intelligence, and vulnerability reports to strengthen the financial sector information security of India.
Jitin Prasada, Minister of State in the Ministry of Commerce & Industry and Electronics and Information Technology, emphasized the importance of cybersecurity in today’s digital age. He stated, “Cybersecurity is the need of the hour and Prime Minister Shri Narendra Modi government is committed to ensuring that people on digital platforms are secure, as this warfare is not on the ground but in cyberspace. I am confident that this is an important milestone that will benefit not only both entities but also the public at large.”
Meanwhile, highlighting Mastercard’s dedication to cybersecurity, the company’s Division President for South Asia, Gautam Aggarwal, said, “Mastercard’s comprehensive approach to security gives its partners and customers deeper visibility into cyber risk and greater adaptability and resilience, protecting their systems through the latest AI technology. The company is delighted to collaborate with CERT-In to fortify India’s financial digital ecosystem, which has powered unprecedented growth in the country.”
CERT-In, a government organization under the Ministry of Electronics and Information Technology, is designated as the national agency for incident response under Section 70B of the Information Technology Act, 2000. The agency offers a range of services, including incident prevention and response, as well as security quality management, making it a crucial player in safeguarding India’s cyber infrastructure.
