Capacity Building in Cyber Security to Make India Secure to go Cashless
I. Chitra1, Sumangala Devi2
1Dr. I. Chitra, PG & Research, Assistant Professor, Department of Economics, Thiagarajar College, Madurai (Tamil Nadu), India.
2Dr. Sumangala Devi, Associate Professor, Department of Commerce, M.O.P. Vaishanav College for Women, Chennai (Tamil Nadu), India.
Manuscript received on 22 October 2019 | Revised Manuscript received on 25 October 2019 | Manuscript Published on 02 November 2019 | PP: 4089-4093 | Volume-8 Issue-2S11 September 2019 | Retrieval Number: B14840982S1119/2019©BEIESP | DOI: 10.35940/ijrte.B1484.0982S1119
Open Access | Editorial and Publishing Policies | Cite | Mendeley | Indexing and Abstracting
© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Recent developments have accelerated to move in India towards a Cashless economy. The Jan Dhan Yojana (Jan Dhan Government Scheme) announced in 2014 is providing for the cost free creation of a bank account for every Indian family. Each bank account is also accompanied by a Rupay Debit card for withdrawing money deposited in the account. The currency demonetization at the end of the year 2016, with the removal of certain denomination of bank notes. The additional initiatives and service offerings are also now encouraging the use of cashless transaction via, online banking, payment cards, e-wallets, direct carrier billing and crypto currency. A study said, as India changes to a large scale economy, cyber dangers are in a new high with the amount of these incidents happening in banking methods rising in the previous five decades. The research demonstrated that demonetization has provided an impetus into e-wallet providers and cellular wallets have seen a huge growth in downloads. Additionally, cyber- risks will only grow as India will be seeing a change towards a strong economy. The kinds of cyber security events like Phishing, scanning, site intrusions and defacements, virus code and denial of service attacksmay keep growing. The joint research by Assocham and PWC stated on ATM card hackstruck on the Indian banks in October this past year, impacting approximately 3.2 million debits. The cyber strikes on Indian sites have increased almost five times before four decades.
Keywords: Cashless Economy, Cyber-threats, Phishing, Scanning. Website Intrusions.
Scope of the Article: Cyber-Physical Systems