Wednesday, June 16, 2021
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Bourses seek clarification over debit card data breach

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Stock exchanges BSE and NSE today said they have sought clarifications from 5 banks — SBI, ICICI Bank, HDFC Bank, Axis Bank and Yes Bank on the debit card data breach issue.

“The exchange has sought clarification from the companies with respect to news item captioned 3.2 million debit cards compromised…the response is awaited,” NSE said.

Similar notices were issued by the BSE to these 5 banks. Exchanges have asked these banks to provide clarification /confirmation on the news items in detail including whether such event stated in published news were taking place.

“If so, you are advised to provide the said information along with the sequence of events in chronological order and the material impact of this article on the company,” it said.

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.

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

The Parliamentary Standing Committee on Finance headed by Congress MP Veerappa Moily, which is scheduled to meet tomorrow, has asked officials from the Finance Ministry, the Corporate Affairs Ministry and various banks to appear before it.

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 Reserve Bank of India has also initiated forensic audit to investigate the entire matter. RBI held a meeting 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.

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