The Reserve Bank of India ( RBI ) has set up a team of ethical hackers to test the vulnerabilities of Indian banks , beginning with public sector banks , which are thought to be more susceptible to cyber attacks than private banks . RBI will audit banks ' security systems to ensure best practice is strictly followed and conformance with international standards . According to the finance ministry, top 51 banks in India have lost close to Rs 500 crore from April 2013 to November 2016 and about 56% of this amounted to net-banking thefts and card cloning. In October last year , 10 million cards had to be replaced or reissued following a security breach in the ATM network .
The Reserve Bank of India ( RBI ) has set up a team of ethical hackers to test the vulnerabilities of Indian banks , beginning with public sector banks , which are thought to be more susceptible to cyber attacks than private banks . RBI will audit banks ' security systems to ensure best practice is strictly followed and conformance with international standards . In October last year , 10 million cards had to be replaced or reissued following a security breach in the ATM network .