India is becoming digital at a very fast rate, perhaps more than any other country. The country’s Prime Minister, Narendra Modi demonetized the 500 and 1000 Rupee bills last month, saying that everyone should move towards cashless transactions. The government has since then issued many incentives to achieve this. As a result, cashless transactions have boomed by 200 percent in the last one month.
But there are serious cyber-security worries, both financial and non-financial. Early in December, the leader of the opposition Rahul Gandhi’s Twitter account was hacked. Systems of most Indian banks and other establishments can be hacked in just a few hours, according to ethical hackers.
The India Initiatives of Cisco Systems
It was thus the government’s priority to improve cyber-security. On Thursday, Cisco India (NASDAQ:CSCO) announced new initiatives to build a secure digital infrastructure environment. A new Security Operations Centre will be opened in the western Indian city of Pune from where services like monitoring and management, threat and hosted security solutions will be provided.
A Cisco Cyber Range Lab has also been opened at Gurugram to arrange specialized technical training workshops so that those working in security departments can improve their skills and gain experience to combat new-age cyber threats.
An MOU (Memorandum of Understanding) has been signed with the CERT or Computer Emergency Response Team of the Indian government to address cyber attacks efficiently. CERT is India’s nodal agency that deals with all incidents of phishing, hacking, and cyber security threats. However, at this time, there is no national encryption policy in India. The government has promised to work on this quickly.
CISCO’S Fourth Security Operations Center to Be in India
Under the MOU, there will also be intelligence sharing, where people from CISCO and CERT will work together to address serious concerns. There are three CISCO Security Operations centers around the world at this time – in Japan, Poland, and the United States. India will be the fourth location for the company. CISCO will carry out round-the-clock monitoring from this center. Customers will receive 24-hours service.
Cisco S&TO-India has been established to improve the overall picture of cyber security in the country so that India can move towards a digital economy smoothly.
Ravi Shankar Prasad, India’s Electronics and IT Minister said, “In light of rapidly evolving cyber tactics and shared risks in cyberspace, there is a need to work with industry partners on pressing cyber challenges. We are happy to have Cisco collaborate with us to enhance the security of India’s digital infrastructure”.