The government has designated ICICI Bank’s IT resources as critical information infrastructure

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The Department of Electronics and Computers (MeitY) has announced that the computing resources of private sector lender ICICI Bank are critical infrastructure under section 70 of the Information Technology Act 2000 , indicating that any damage may have an influence on national security and anyone not authorized to access it. he can be imprisoned for up to ten years, according to official notification.

“The Central Government hereby declares that the computing resources relating to the Central Banking Solution, Real-Time Gross Settlement and National Electronic Funds Transfer comprising the Structured Financial Messaging Server, being the critical information infrastructure of the ICICI bank, and the computer resources of its associated dependencies must be protected systems for the purposes of said law,” the official notification reads.

The announcement grants access to the lender’s computing resources to authorized employees approved by ICICI Bank, formally approved team members of contracted managed service providers, or third-party vendors who have been approved by the bank for access based on requirements, and to any consultants, regulators, government officials, auditors and bank-authorized stakeholders on a case-by-case basis.

“In view of the recent sophisticated cyberattacks, it is high time that all banks and financial institutions be notified as a protected system. Likewise, the control system of all electrical, oil, airport, rail, metro and transport systems are critical infrastructure and should be declared as a protected system,” said SP, Cyber ​​Crime, Uttar Pradesh Police and Certified Cyber ​​Expert Triveni Singh.

The law defines “critical information infrastructure” as a computing resource whose inefficiency or loss has a devastating impact on national security, the economy, public health, or safety. By law, anyone who obtains or attempts to obtain access to a protected system in violation of the requirements faces a prison term of up to ten years as well as a penalty.

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