Parliamentary panel to probe security issues over debit card data breach | Latest News India - Hindustan Times
close_game
close_game

Parliamentary panel to probe security issues over debit card data breach

ByPTI, New Delhi
Nov 06, 2016 11:01 AM IST

Concerned over the biggest-ever breach of debit card data, a parliamentary panel will examine various security issues related to payments in the banking sector and has asked government officials and representatives of some banks to appear before it.

Concerned over the biggest-ever breach of debit card data, a parliamentary panel will examine various security issues related to payments in the banking sector and has asked government officials and representatives of some banks to appear before it.

A parliamentary panel will examine various security issues related to payments in the banking sector.(Shutterstock/Representative image)
A parliamentary panel will examine various security issues related to payments in the banking sector.(Shutterstock/Representative image)

As many as 32.14 lakh debit cards data was compromised and 641 customers across 19 banks were duped of Rs 1.3 crore using stolen debit card data.

Hindustan Times - your fastest source for breaking news! Read now.

The parliamentary standing committee on finance, which is scheduled to meet later this week, has asked officials from the Finance Ministry, the Corporate Affairs Ministry and various banks to appear before it.

The panel is headed by Congress MP Veerappa Moily.

Representatives of State Bank of India, HDFC Bank, ICICI Bank and Yes Bank have been asked to brief the panel on “security-related issues concerning payments in the banking sector”, according to a Lok Sabha secretariat notice.

The notice said the panel will also be briefed by representatives of the Department of Financial Services from the Finance Ministry and the Corporate Affairs Ministry.

The suspected security breach happened through a malware in the systems of Hitachi Payments Services, which serves ATM networks.

There are around 60 crore debit cards operational in India, of which 19 crore are indigenously developed by RuPay while the rest are Visa- and Master Card-enabled.

Of the debit cards affected, about 26.5 lakh are on Visa and MasterCard platforms while 6,00,000 are on RuPay. The breach reportedly involved some 90 ATMs.

Several public and private sector banks recalled or blocked over 32 lakh debit cards to safeguard their customers from any financial fraud.

The Reserve Bank of India also initiated forensic audit to investigate the entire matter.

The RBI held a meeting also with senior officials from select banks, the National Payment Corporation of India (NPCI) and card network operators to review the steps taken by various agencies to contain the adverse fall-out of certain card details alleged to have been compromised.

The Finance Ministry had also asked various agencies, to submit their report on this matter.

Unveiling Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, Election 2024, Mukhtar Ansari Death News Live, Bihar Board 10th Result 2024 Live along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On