The government has designated ICICI Bank’s IT assets as “critical information infrastructure”, meaning that any damage to ICICI Bank could have an impact on national security and any unauthorized person accessing them could face up to 10 years in prison. can get, according to an official notice.
The Ministry of Electronics and IT (MeitY) in the June 16 notification declared the private sector lender’s IT resources as critical infrastructure under Section 70 of the IT Act 2000.
“The Central Government hereby declares that the computer resources related to the Core Banking Solution, Real Time Gross Settlement and National Electronic Fund Transfer, consisting of Structured Financial Messaging Server, being critical information infrastructure of ICICI Bank, and the computer resources of the associated dependencies, are protected systems for the purpose of said law,” the notice said.
The notice authorizes designated employees authorized by ICICI Bank, authorized team members of contractually managed service providers or third-party vendors authorized by the bank to access on an as-needed basis and any advisers, regulators, government officials, auditors and stakeholders authorized by the bank on a case-by-case basis to access the lender’s IT resources.
“If we look at the recent sophisticated cyber-attacks, it is high time that all banks and financial institutions inform themselves as a protected system.
Likewise, the control system of all electricity, oil, airports, railways, metros and transportation systems is critical infrastructure and should be classified as a protected system, said SP, Cyber Crime, Uttar Pradesh Police and certified cyber expert Triveni Singh.
Under the law, “critical information infrastructure” means a computer resource the failure or destruction of which will have a debilitating effect on national security, economy, public health or safety.
Any person who, in violation of the provisions, secures or attempts to secure access to a secured system will be punished with a prison term of up to ten years and may also be fined, according to the law.