JE Technology Desk: In view of the rising cyber threats in India and their application, the Parliamentary Standing Committee for Finance scheduled a meeting for July 4 on Friday to discuss concerns about cyber security and cyber threats in India. The Committee summoned senior representatives of several banks and top tech companies to share their thoughts on how these threats can be prevented.
According to ANI, the subject of the discussion, as per the meeting agenda, will be "cyber security and rising incidence of cyber/white collar crimes." Among the summoned representatives are officials from Punjab National Bank (PNB), Yes Bank, Bank of India, and Indian Computer Emergency Response Team (CERT-In). Plus, authorities have also summoned Paytm, Flipkart, Apple and Google to send in their representatives.
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"Oral evidence of the representatives of Punjab National Bank (PNB), Bank of India, Yes Bank and Indian Computer Emergency Response Team (CERT-In) on the subject 'Cyber security and rising incidence of cyber/white collar crimes," the committee agenda read.
The Standing Committee expressed unease around the rising cyber threats in India. Jayant Sinha, a BJP Member of Parliament from Hazaribagh, is the Chairman of the Committee. This panel consists of 31 members, with 21 coming from Lok Sabha and 10 from Rajya Sabha.
Cyber crimes are on an exponential rise in India as scammers innovate novel ways at a rapid pace. According to PTI, challenges of cyber threats were at the centre of a discussion in a meeting of the Committee held in June. Experts were questioned by the panel on areas ranging from fraud loan apps to illegal cyber crimes.
A pivotal worry revolved around the risk of fraud lending apps in India that charge sky-high interest rates. Such cases have grabbed headlines in the media lately. Members who joined the earlier meet included officials from PhonePe, CRED, Razorpay and QNu LAbs, besides Nasscom, as per the report.