Mumbai: India’s Finance Minister Nirmala Sitharaman has urged the country’s market regulator Securities and Exchange Board of India to deepen its engagement with global counterparts and strengthen efforts to address rising cyber threats in financial systems.
Speaking at an event in Mumbai, the minister said closer cooperation with international regulators is important to build greater trust among global investors. She noted that stronger global consultations would help India align better with international standards and improve confidence in its markets.
Sitharaman also highlighted the growing risks posed by cyber attacks, especially with the increasing use of advanced technologies. She encouraged the regulator to make better use of artificial intelligence and data tools to detect and prevent threats before they affect financial stability.
The minister pointed out that cyber risks are becoming more complex and require coordinated responses across countries. She said regulators must stay alert and work together to protect financial systems from disruptions.
In addition, she called for simplifying know your customer procedures across financial sectors. A more unified system, she said, would make it easier for investors and reduce delays in accessing financial services.
The remarks come at a time when India is working to attract more foreign investment and strengthen its financial sector. Authorities are also focusing on improving transparency and security as digital transactions grow rapidly and cyber fraud cases increase.
With global financial systems becoming more connected, India is looking to position itself as a reliable and secure investment destination while preparing its institutions to face new technological challenges.