Nirmala Sitharaman Warns Of Market Cyberattack Risk
Finance Minister Nirmala Sitharaman has warned that a major cyberattack on India’s financial market infrastructure could disrupt markets at a national scale, erase investor wealth and damage public confidence.
Sitharaman Warns SEBI On Cybersecurity Risk
Speaking at SEBI’s 38th Foundation Day event in Mumbai, Sitharaman urged the market regulator and all regulated entities to remain exceptionally vigilant against emerging cyber threats.
She said a successful cyberattack on a major stock exchange, depository, clearing corporation or large broker could create serious market-wide disruption. The warning comes at a time when India’s financial system is becoming increasingly digital and interconnected.
AI-Led Cyber Threats Raise Market Concerns
The Finance Minister said artificial intelligence-led tools are making cyberattacks faster, more adaptive and more scalable. These attacks can include automated discovery of system vulnerabilities, malicious interference with source code, software supply chain attacks and coordinated intrusions that evolve in real time to avoid detection.
She said the tools of attack are evolving quickly and the tools of defence must evolve even faster. Her remarks placed cybersecurity among the most urgent regulatory challenges facing India’s capital markets.
SEBI Asked To Improve Investor Awareness
Sitharaman also asked SEBI to invest strongly in public awareness across major platforms and regional languages. She launched SEBI’s nationwide investor awareness initiative, Mission Jagrook, during the event.
The Finance Minister also backed action against unregistered financial influencers and called for responsible financial education. She said regulation should become more sophisticated and anticipatory rather than only reactive, especially as risks from cybercrime, artificial intelligence misuse and digital fraud continue to grow.
