Secure banking Heritage tracks
With reference to “Tackling cyber threats” (October 24), the rising threats to electronic banking and financial transactions point to the fact that financial institutions, particularly banks, in India are highly vulnerable to hackers. While implementing digitalisation of banking operations, it seems the institutions have forgotten about the coexistence of the relative risks and threats that eventually led to the present situation. The evaluation of the functioning of existing systems in financial institutions could not plug the vulnerabilities, thereby putting customers at risks. As a remedy some of the banks have blocked the use of credit and debit cards, which is not only improper but has spelt trouble for customers.
The information technology departments in financial institutions must have trained personnel who are wellversed in banking operations and possess skills to develop foolproof systems and procedures to mitigate systemic risks and failures. Security audits and inspection of software and hardware need further strengthening, while periodical training of staffers would ensure skill development. Notwithstanding the list of dos and don’ts issued by banks to customers, many are negligent in following these. At a time when the central government is aggressively pushing financial inclusion and digitalisation, an assessment of the likely risks and threats in electronic transactions is critical to ensure secure banking transactions.
VSK Pillai Changanacherry With reference to the disturbing news report, “Government to take over Shakuntala, only private railway line” (October 23), we Indians do not know nor care about the significance heritage institutions hold for our national history. The century-old Shakuntala Railway should not fall prey to incorrect priorities such as preventing financial losses, increasing volume of trade and speed of moving goods and passengers.
If we retained this railway line, even at a cost of a few crores of rupees to the exchequer, what damage would it do to the economic progress of our country? The engineering skills of yesteryear will be a delight to witness for our young generation. It is all right to rip off the metre and narrow gauge railway lines and replace them with broad gauge lines in some routes. But I am sure that if we maintained a few of the classic railway lines such as the Darjeeling Himalayan Railway and Matheran Railway Lines, posterity will admire the foresight of their predecessors.
I earnestly request the Narendra Modi government to not remove the tracks of Shakuntala Railway but preserve them as national assets, and hope that this plea will not fall on deaf ears.
Nirupam Haldar Kolkata