While participating in the event organized by Pune’s Ramrajya Sahakari Bank last week, Maharashtra Deputy Chief Minister Ajit Pawar on Saturday called upon the directors of cooperative banks to urgently implement strong cybersecurity systems to safeguard depositors’ funds, highlighting the massive impact of cybercrimes on the banking sector.
He stated, “Cybercrimes have surged dramatically across the country, causing losses of around Rs 70,000 crore to banking institutions at the state, national, district, and taluka levels.”
He emphasized that banks have developed robust cyber protection systems to ensure the safety and confidentiality of depositors’ funds and banking transactions. “Similarly, cybersecurity frameworks have been designed specifically for cooperative banks, and many have already begun adopting these measures. This will ensure that depositors’ money, banking transactions, and data privacy remain secure,” Pawar added.
Pawar further urged cooperative bank boards to set aside political differences and work sincerely for the welfare of depositors and the banks. “There is a need to cultivate a sense of ownership among people towards the cooperative sector.
The sector must undergo timely reforms to strengthen depositor trust, ensure transparent operations, secure deposits, and address other operational aspects through strategic policy changes,” he said.
The event was attended by MLA Chetan Tupe, MSC Bank Administrator Vidyadhar Anaskar, Ramrajya Sahakari Bank founder Vijay Mohite, Subhash Mohite, and others.
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