RBI governor warns future crisis could come from cyber shocks
In short
RBI Governor Sanjay Malhotra said the next financial crisis may come from cyberattacks, geopolitical shocks or tech failures. He said the banking system may not be the main source next time.
He also said India’s financial system is strong, but it still needs more protection across markets, payments, non-banks and critical infrastructure. No new rule or crisis was announced.
What the reporting says
RBI Governor Sanjay Malhotra said the next financial crisis may be triggered by geopolitical shocks, cyberattacks or technology failures rather than the banking system. He called for stronger resilience across markets, payments, non-banks and critical infrastructure, while saying India’s financial system remains strong. The immediate impact is a warning for financial institutions, but no specific incident or policy change was reported.
Why it matters
The governor’s remarks shift attention from traditional bank weakness to broader risks such as cyberattacks, geopolitical shocks and technology failures. He said resilience is needed across markets, payments, non-bank lenders and critical infrastructure. The comments matter for regulators and financial firms, but the source does not identify a specific threat, incident or policy response.