Cooperative Bank of India organized a two days National seminar on Cyber Security and digital banking recently. The theme of the National level Webinar was IT and Cyber Securities for Cooperative Banks.
Inaugurating the seminar, G H Amin, Chairman, COBI said that use of innovative technology is necessary for professionalization of cooperative banks. Amin emphasized upon the need for cooperative banks to adopt the latest technologies in their operations in the wake of the recent Banking Regulation Amendment Act.
Dr V.K Dubey, who has taken over as MD, COBI after his retirement from the apex co-op body NCUI, briefed the participants on the significance of this seminar.
Several experts from different organizations debated burning co-op issues which included RBI Guidelines and cybersecurity framework for Cooperative Banks, Digital Banking for Cooperative Banks, Cyber Security Management (Preventive Measures and Cyber Security tools) and Cyber Crime and Cyber law in India.
Cooperative Bank of India was established in 1993 based on the recommendation of the High level Agricultural Credit Review Committee under the chairmanship of Prof AM Khusro.
As cyber-crime and fraud have spread widely with adoption of IT, COBI plans to organize a series of training programmes for cooperative banks so that staff and management committees of these banks are well equipped with tools to tackle these frauds.