VERIFIEDET Finance·9 Sept 2026neutral

Banks need to invest more in digital, financial literacy to tackle cyber fraud: Bank of Baroda MD

AI Summary

·Bank of Baroda MD and CEO Debadatta Chand stated that the financial system requires increased investment in digital and financial literacy to address growing cyber fraud.
·He pointed out vulnerabilities present in both banks and among customers.
·Investments are being made in cybersecurity, AI-based underwriting, and cash-flow-based financing for MSMEs.