Private sector Axis Bank said on Wednesday there was no loss to its customers from the recent cyber attack. In July, state-owned Union Bank of India was also hit by cyber attack but successfully averted the theft from USD Nostro account. Union Bank went for a cyber security forensic audit to identify and plug gaps, if any. Last month, in a meeting with head of public sector banks, Finance Minister Arun Jaitley discussed issues related with cyber security and measures to strengthening cyber security. RBI had started a special supervision of banks cyber security last year on a pilot basis in which it had covered a few largest banks.

Source: dna October 19, 2016 17:26 UTC