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Finance Ministry asks PSBs to complete wage revision process in next 12 months

Public sector banks must begin wage revision talks for employees and officers. Negotiations for the 13th Bi-partite settlement are to be finalised within a year. This wage revision is due from November 1, 2027. The government emphasises timely conclusion to maintain industrial harmony. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/RJEsdfX via IFTTT
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Explained | Why Anthropic’s Mythos is spooking bankers and what it means for global finance

Anthropic’s Mythos AI is triggering global concern as banks and regulators warn it could enable faster, large-scale cyberattacks on financial systems. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/EGrS35q via IFTTT
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Haryana IDFC First Bank fraud: Development and Panchayat Dept official dismissed from service

IDFC First Bank fraud: A Haryana government official has been dismissed from service. Naresh Bhuwani, a Superintendent in the Development and Panchayat Department, faces dismissal in a Rs 590 crore IDFC First Bank fraud case. The government has uncovered a criminal conspiracy involving fraudulent banking transactions. Government funds were transferred to shell companies. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/YC65M7c via IFTTT
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FM Nirmala Sitharaman flags AI cyber threat, asks banks to act

Finance Minister Nirmala Sitharaman has directed the Indian Banks' Association to help banks combat emerging cybersecurity threats from Anthropic's Claude Mythos AI. SBI Chairman Challa Srinivasulu Setty will lead these efforts. Banks will explore investments and technologies, including AI, to counter this new AI-borne challenge. The Ministry of Electronics and Information Technology is actively engaging with global partners on preparedness. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/hwmyZJ2 via IFTTT
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‘Mythos’ AI threat: FM tells banks to build stronger defences

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Ybit1k0 via IFTTT
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RBI imposes penalty on Bandhan Bank, Muthoot Housing Finance Company

While imposing a penalty on Bandhan Bank, the RBI said the bank failed to carry out periodic review of risk categorisation of certain categories of accounts, and had sanctioned director-related loans. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5bSRCLA via IFTTT
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FM Sitharaman says Indian banks must build new defences as AI threats grow, West Asia crisis watched closely

Indian banks face new artificial intelligence cyber threats. Finance Minister Nirmala Sitharaman urged a proactive approach. Banks will collaborate to identify vulnerabilities and adopt new technologies. AI itself may be used to combat AI-driven attacks. This initiative aims to strengthen cybersecurity defenses. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/F1T9maQ via IFTTT
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