#FactCheck-A manipulated image showing Indian cricketer Virat Kohli allegedly watching Rahul Gandhi's media briefing on his mobile phone has been widely shared online.

Introduction

Against the dynamic backdrop of Mumbai, where the intersection of age-old markets and cutting-edge innovation is a daily reality, an initiative of paramount importance has begun to take shape within the hallowed walls of the Reserve Bank of India (RBI). This is not just a tweak, a nudge in policy, or a subtle refinement of protocols. What we're observing is nothing short of a paradigmatic shift, a recalibration of systemic magnitude, that aims to recalibrate the way India's financial monoliths oversee, manage, and secure their informational bedrock – their treasured IT systems.

On the 7th of November, 2023, the Reserve Bank of India, that bastion of monetary oversight and national fiscal stability, unfurled a new doctrine – the 'Master Direction on Information Technology Governance, Risk, Controls, and Assurance Practices.' A document comprehensive in its reach, it presents not merely an update but a consolidation of all previously issued guidelines, instructions, and circulars relevant to IT governance, plaited into a seamless narrative that extols virtues of structured control and unimpeachable assurance practices. Moreover, it grasps the future potential of Business Continuity and Disaster Recovery Management, testaments to RBI's forward-thinking vision.

This novel edict has been crafted with a target audience that spans the varied gamut of financial entities – from Scheduled Commercial Banks to Non-Banking Financial Companies, from Credit Information Companies to All India Financial Institutions. These are the juggernauts that keep the economic wheels of the nation churning, and RBI's precision-guided document is an unambiguous acknowledgment of the vital role IT holds in maintaining the heartbeat of these financial bodies. Here lies a riveting declaration that robust governance structures aren't merely preferred but essential to manage the landscape of IT-related risks that balloon in an era of ever-proliferating digital complexity.

Directive Structure

The directive's structure is a combination of informed precision and intuitive foresight. Its seven chapters are not simply a grouping of topics; they are the seven pillars upon which the temple of IT governance is to be erected. The introductory chapter does more than set the stage – it defines the very reality, the scope, and the applicability of the directive, binding the reader in an inextricable covenant of engagement and anticipation. It's followed by a deep dive into the cradle of IT governance in the second chapter, drawing back the curtain to reveal the nuanced roles and defiant responsibilities bestowed upon the Board of Directors, the IT Strategy Committee, the clairvoyant Senior Management, the IT Steering Committee, and the pivotal Head of IT Function.

As we move along to the third chapter, we encounter the nuts and bolts of IT Infrastructure & Services Management. This is not just a checklist; it is an orchestration of the management of IT services, third-party liaisons, the calculus of capacity management, and the nuances of project management. Here terms like change and patch management, cryptographic controls, and physical and environmental safeguards leap from the page – alive with earnest practicality, demanding not just attention but action.

Transparency deepens as we glide into the fourth chapter with its robust exploration of IT and Information Security Risk Management. Here, the demand for periodic dissection of IT-related perils is made clear, along with the edifice of an IT and Information Security Risk Management Framework, buttressed by the imperatives of Vulnerability Assessment and Penetration Testing.

The fifth chapter presents a tableau of circumspection and preparedness, as it waxes eloquent on the necessity and architecture of a well-honed Business Continuity Plan and a disaster-ready DR Policy. It is a paean to the anticipatory stance financial institutions must employ in a world fraught with uncertainty.

Continuing the narrative, the sixth chapter places the spotlight on Information Systems Audit, delineating the precise role played by the Audit Committee of the Board in ushering in accountability through an exhaustive IS Audit of the institution's virtual expanse.

And as we perch on the final chapter, we're privy to the 'repeal and other provisions' of the directive, underscoring the interplay of other applicable laws and the interpretation a reader may yield from the directive's breadth.

Conclusion 

To proclaim that this directive is a mere step forward in the RBI's exhaustive and assiduous efforts to propel India's financial institutions onto the digital frontier would be a grave understatement. What we are witnessing is the inception of a more adept, more secure, and more resilient financial sector. This directive is nothing less than a beacon, shepherding in an epoch of IT governance marked by impervious governance structures, proactive risk management, and an unyielding commitment to the pursuit of excellence and continuous improvement. This is no ephemeral shift - this is, indisputably, a revolutionary stride into a future where confidence and competence stand as the watchwords in navigating the digital terra incognita.

References:

https://www.businesstoday.in/industry/banks/story/rbi-issues-new-directions-on-it-governance-in-banks-nbfcs-effective-from-april-2024-check-details-405061-2023-11-08

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The race for global leadership in AI is in full force. As China and the US emerge as the ‘AI Superpowers’ in the world, the world grapples with the questions around AI governance, ethics, regulation, and safety. Some are calling this an ‘AI Arms Race.’ Most of the applications of these AI systems are in large language models for commercial use or military applications. Countries like Germany, Japan, France, Singapore, and India are now participating in this race and are not mere spectators. 

The Government of India’s Ministry of Electronics and Information Technology (MeitY) has launched the IndiaAI Mission, an umbrella program for the use and development of AI technology. This MeitY initiative lays the groundwork for supporting an array of AI goals for the country. The government has allocated INR 10,300 crore for this endeavour. This mission includes pivotal initiatives like the IndiaAI Compute Capacity, IndiaAI Innovation Centre (IAIC), IndiaAI Datasets Platform, IndiaAI Application Development Initiative, IndiaAI FutureSkills, IndiaAI Startup Financing, and Safe & Trusted AI.

There are several challenges and opportunities that India will have to navigate and capitalize on to become a significant player in the global AI race. The various components of India’s ‘AI Stack’ will have to work well in tandem to create a robust ecosystem that yields globally competitive results. The IndiaAI mission focuses on building large language models in vernacular languages and developing compute infrastructure. There must be more focus on developing good datasets and research as well.

Resource Allocation and Infrastructure Development

The government is focusing on building the elementary foundation for AI competitiveness. This includes the procurement of AI chips and compute capacity, about 10,000 graphics processing units (GPUs), to support India’s start-ups, researchers, and academics. These GPUs have been strategically distributed, with 70% being high-end newer models and the remaining 30% comprising lower-end older-generation models. This approach ensures that a robust ecosystem is built, which includes everything from cutting-edge research to more routine applications. A major player in this initiative is Yotta Data Services, which holds the largest share of 9,216 GPUs, including 8,192 Nvidia H100s. Other significant contributors include Amazon AWS's managed service providers, Jio Platforms, and CtrlS Datacenters. 

Policy Implications: Charting a Course for Tech Sovereignty and Self-reliance

With this government initiative, there is a concerted effort to develop indigenous AI models and reduce tech dependence on foreign players. There is a push to develop local Large Language Models and domain-specific foundational models, creating AI solutions that are truly Indian in nature and application. Many advanced chip manufacturing takes place in Taiwan, which has a looming China threat. India’s focus on chip procurement and GPUs speaks to a larger agenda of self-reliance and sovereignty, keeping in mind the geopolitical calculus. This is an important thing to focus on, however, it must not come at the cost of developing the technological ‘know-how’ and research. 

Developing AI capabilities at home also has national security implications. When it comes to defence systems, control over AI infrastructure and data becomes extremely important. The IndiaAI Mission will focus on safe and trusted AI, including developing frameworks that fit the Indian context. It has to be ensured that AI applications align with India's security interests and can be confidently deployed in sensitive defence applications.

The big problem here to solve here is the ‘data problem.’ There must be a focus on developing strategies to mitigate the data problem that disadvantages the Indian AI ecosystem. Some data problems are unique to India, such as generating data in local languages. While other problems are the ones that appear in every AI ecosystem development lifecycle namely generating publicly available data and licensed data. India must strengthen its ‘Digital Public Infrastructure’ and data commons across sectors and domains.

India has proposed setting up the India Data Management Office to serve as India’s data regulator as part of its draft National Data Governance Framework Policy. The MeitY IndiaAI expert working group report also talked about operationalizing the India Datasets Platform and suggested the establishment of data management units within each ministry.

Economic Impact: Growth and Innovation

The government’s focus on technology and industry has far-reaching economic implications. There is a push to develop the AI startup ecosystem in the country. The IndiaAI mission heavily focuses on inviting ideas and projects under its ambit. The investments will strengthen the IndiaAI startup financing system, making it easier for nascent AI businesses to obtain capital and accelerate their development from product to market. Funding provisions for industry-led AI initiatives that promote social impact and stimulate innovation and entrepreneurship are also included in the plan. The government press release states, "The overarching aim of this financial outlay is to ensure a structured implementation of the IndiaAI Mission through a public-private partnership model aimed at nurturing India’s AI innovation ecosystem.”

The government also wants to establish India as a hub for sustainable AI innovation and attract top AI talent from across the globe. One crucial aspect that needs to be worked on here is fostering talent and skill development. India has a unique advantage, that is, top-tier talent in STEM fields. Yet we suffer from a severe talent gap that needs to be addressed on a priority basis. Even though India is making strides in nurturing AI talents, out-migration of tech talent is still a reality. Once the hardware manufacturing “goods-side” of economics transitions to service delivery in the field of AI globally, India will need to be ready to deploy its talent. Several structural and policy interfaces, like the New Education Policy and industry-academic partnership frameworks, allow India to capitalize on this opportunity. 

India’s talent strategy must be robust and long-term, focusing heavily on multi-stakeholder engagement. The government has a pivotal role here by creating industry-academia interfaces and enabling tech hubs and innovation parks.

India's Position in the Global AI Race

India’s foreign policy and geopolitical standpoint have been one of global cooperation. This must not change when it comes to AI. Even though this has been dubbed as the “AI Arms Race,” India should encourage worldwide collaboration on AI R&D through collaboration with other countries in order to strengthen its own capabilities. India must prioritise more significant open-source AI development, work with the US, Europe, Australia, Japan, and other friendly countries to prevent the unethical use of AI and contribute to the formation of a global consensus on the boundaries for AI development. 

The IndiaAI Mission will have far-reaching implications for India’s diplomatic and economic relations. The unique proposition that India comes with is its ethos of inclusivity, ethics, regulation, and safety from the get-go. We should keep up the efforts to create a powerful voice for the Global South in AI. The IndiaAI Mission marks a pivotal moment in India's technological journey. Its success could not only elevate India's status as a tech leader but also serve as a model for other nations looking to harness the power of AI for national development and global competitiveness. In conclusion, the IndiaAI Mission seeks to strengthen India's position as a global leader in AI, promote technological independence, guarantee the ethical and responsible application of AI, and democratise the advantages of AI at all societal levels.

References

• ​​Ashwini Vaishnaw to launch IndiaAI portal, 10 firms to provide 14,000 GPUs. (2025, February 17). https://www.business-standard.com/. Retrieved February 25, 2025, from https://www.business-standard.com/industry/news/indiaai-compute-portal-ashwini-vaishnaw-gpu-artificial-intelligence-jio-125021700245_1.html
• Global IndiaAI Summit 2024 being organized with a commitment to advance responsible development, deployment and adoption of AI in the country. (n.d.). https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2029841
• India to Launch AI Compute Portal, 10 Firms to Supply 14,000 GPUs. (2025, February 17). apacnewsnetwork.com. https://apacnewsnetwork.com/2025/02/india-to-launch-ai-compute-portal-10-firms-to-supply-14000-gpus/
• INDIAai | Pillars. (n.d.). IndiaAI. https://indiaai.gov.in/
• IndiaAI Innovation Challenge 2024 | Software Technology Park of India | Ministry of Electronics & Information Technology Government of India. (n.d.). http://stpi.in/en/events/indiaai-innovation-challenge-2024
• IndiaAI Mission To Deploy 14,000 GPUs For Compute Capacity, Starts Subsidy Plan. (2025, February 17). www.businessworld.in. Retrieved February 25, 2025, from https://www.businessworld.in/article/indiaai-mission-to-deploy-14000-gpus-for-compute-capacity-starts-subsidy-plan-548253
• India’s interesting AI initiatives in 2024: AI landscape in India. (n.d.). IndiaAI. https://indiaai.gov.in/article/india-s-interesting-ai-initiatives-in-2024-ai-landscape-in-india
• Mehra, P. (2025, February 17). Yotta joins India AI Mission to provide advanced GPU, AI cloud services. Techcircle. https://www.techcircle.in/2025/02/17/yotta-joins-india-ai-mission-to-provide-advanced-gpu-ai-cloud-services/
• IndiaAI 2023: Expert Group Report – First Edition. (n.d.). IndiaAI. https://indiaai.gov.in/news/indiaai-2023-expert-group-report-first-edition
• Satish, R., Mahindru, T., World Economic Forum, Microsoft, Butterfield, K. F., Sarkar, A., Roy, A., Kumar, R., Sethi, A., Ravindran, B., Marchant, G., Google, Havens, J., Srichandra (IEEE), Vatsa, M., Goenka, S., Anandan, P., Panicker, R., Srivatsa, R., . . . Kumar, R. (2021). Approach Document for India. In World Economic Forum Centre for the Fourth Industrial Revolution, Approach Document for India [Report]. https://www.niti.gov.in/sites/default/files/2021-02/Responsible-AI-22022021.pdf
• Stratton, J. (2023, August 10). Those who solve the data dilemma will win the A.I. revolution. Fortune. https://fortune.com/2023/08/10/workday-data-ai-revolution/
• Suri, A. (n.d.). The missing pieces in India’s AI puzzle: talent, data, and R&D. Carnegie Endowment for International Peace. https://carnegieendowment.org/research/2025/02/the-missing-pieces-in-indias-ai-puzzle-talent-data-and-randd?lang=en
• The AI arms race. (2024, February 13). Financial Times. https://www.ft.com/content/21eb5996-89a3-11e8-bf9e-8771d5404543

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Introduction

A disturbing trend of courier-related cyber scams has emerged, targeting unsuspecting individuals across India. In these scams, fraudsters pose as officials from reputable organisations, such as courier companies or government departments like the narcotics bureau. Using sophisticated social engineering tactics, they deceive victims into divulging personal information and transferring money under false pretences. Recently, a woman IT professional from Mumbai fell victim to such a scam, losing Rs 1.97 lakh.

Instances of courier-related cyber scams

Recently, two significant cases of courier-related cyber scams have surfaced, illustrating the alarming prevalence of such fraudulent activities.

1. Case in Delhi: A doctor in Delhi fell victim to an online scam, resulting in a staggering loss of approximately Rs 4.47 crore. The scam involved fraudsters posing as representatives of a courier company. They informed the doctor about a seized package and requested substantial money for verification purposes. Tragically, the doctor trusted the callers and lost substantial money.
2. Case in Mumbai: In a strikingly similar incident, an IT professional from Mumbai, Maharashtra, lost Rs 1.97 lakh to cyber fraudsters pretending to be officials from the narcotics department. The fraudsters contacted the victim, claiming her Aadhaar number was linked to the criminals’ bank accounts. They coerced the victim into transferring money for verification through deceptive tactics and false evidence, resulting in a significant financial loss.

These recent cases highlight the growing threat of courier-related cyber scams and the devastating impact they can have on unsuspecting individuals. It emphasises the urgent need for increased awareness, vigilance, and preventive measures to protect oneself from falling victim to such fraudulent schemes.

Nature of the Attack

The cyber scam typically begins with a fraudulent call from someone claiming to be associated with a courier company. They inform the victim that their package is stuck or has been seized, escalating the situation by involving law enforcement agencies, such as the narcotics department. The fraudsters manipulate victims by creating a sense of urgency and fear, convincing them to download communication apps like Skype to establish credibility. Fabricated evidence and false claims trick victims into sharing personal information, including Aadhaar numbers, and coercing them to make financial transactions for verification purposes.

‍Best Practices to Stay Safe

To protect oneself from courier-related cyber scams and similar frauds, individuals should follow these best practices:

• Verify Calls and Identity: Be cautious when receiving calls from unknown numbers. Verify the caller’s identity by cross-checking with relevant authorities or organisations before sharing personal information.
• Exercise Caution with Personal Information: Avoid sharing sensitive personal information, such as Aadhaar numbers, bank account details, or passwords, over the phone or through messaging apps unless necessary and with trusted sources.
• Beware of Urgency and Threats: Scammers often create a sense of urgency or threaten legal consequences to manipulate victims. Remain vigilant and question any unexpected demands for money or personal information.
• Double-Check Suspicious Claims: If contacted by someone claiming to be from a government department or law enforcement agency, independently verify their credentials by contacting the official helpline or visiting the department’s official website.
• Educate and Spread Awareness: Share information about these scams with friends, family, and colleagues to raise awareness and collectively prevent others from falling victim to such frauds.

Legal Remedies

In case of falling victim to a courier-related cyber scam, individuals can sort to take the following legal actions:

1. File a First Information Report (FIR): In case of falling victim to a courier-related cyber scam or any similar online fraud, individuals have legal options available to seek justice and potentially recover their losses. One of the primary legal actions that can be taken is to file a First Information Report (FIR) with the local police. The following sections of Indian law may be applicable in such cases:
2. Section 419 of the Indian Penal Code (IPC): This section deals with the offence of cheating by impersonation. It states that whoever cheats by impersonating another person shall be punished with imprisonment of either description for a term which may extend to three years, or with a fine, or both.
3. Section 420 of the IPC: This section covers the offence of cheating and dishonestly inducing delivery of property. It states that whoever cheats and thereby dishonestly induces the person deceived to deliver any property shall be punished with imprisonment of either description for a term which may extend to seven years and shall also be liable to pay a fine.
4. Section 66(C) of the Information Technology (IT) Act, 2000: This section deals with the offence of identity theft. It states that whoever, fraudulently or dishonestly, makes use of the electronic signature, password, or any other unique identification feature of any other person shall be punished with imprisonment of either description for a term which may extend to three years and shall also be liable to pay a fine.
5. Section 66(D) of the IT Act, 2000 pertains to the offence of cheating by personation by using a computer resource. It states that whoever, by means of any communication device or computer resource, cheats by personating shall be punished with imprisonment of either description for a term which may extend to three years and shall also be liable to pay a fine.
6. National Cyber Crime Reporting Portal- One powerful resource available to victims is the National Cyber Crime Reporting Portal, equipped with a 24×7 helpline number, 1930. This portal serves as a centralised platform for reporting cybercrimes, including financial fraud.

Conclusion:

The rise of courier-related cyber scams demands increased vigilance from individuals to protect themselves against fraud. Heightened awareness, caution, and scepticism when dealing with unknown callers or suspicious requests are crucial. By following best practices, such as verifying identities, avoiding sharing sensitive information, and staying updated on emerging scams, individuals can minimise the risk of falling victim to these fraudulent schemes. Furthermore, spreading awareness about such scams and promoting cybersecurity education will play a vital role in creating a safer digital environment for everyone.