The Biz Reporter
Srinagar, July 28: In the aftermath of the Pahalgam terror attack that shook Jammu and Kashmir earlier this year, J&K Bank successfully thwarted a wave of cyberattacks originating from Pakistan and beyond, thanks to what officials described as a “robust and resilient” cybersecurity framework.
Managing Director and CEO of J&K Bank, Amitava Chatterjee, told PTI in an exclusive interview that the cyberattacks began within 24 hours of the April 23rd attack, which claimed 26 lives, mostly tourists. However, the bank’s early preparedness and advanced digital defense systems ensured that none of its services or applications were disrupted.
“From April 23 onwards, we had already put preventive steps in place. The attacks came from multiple directions—neighbouring countries and beyond—but we managed to prevent any damage due to the strength of our cybersecurity infrastructure,” Chatterjee said.
In a major endorsement of the bank’s digital resilience, the Reserve Bank of India (RBI) has rated J\&K Bank among the top institutions in cybersecurity. Further validation came from the Indian Banks’ Association (IBA), which awarded the bank top honors in its category for cybersecurity excellence.
So robust is the system that the Union Territory administration has now appointed J\&K Bank’s cybersecurity head as an advisor to guide broader digital security efforts in government departments.
“Even the UT government recognises our cybersecurity capabilities. Our officer has been engaged as an advisor, which is a significant acknowledgment,” Chatterjee added.
Despite the confidence in its digital infrastructure, the bank has not been immune to the economic aftershocks of the Pahalgam attack and Operation Sindoor. Chatterjee admitted that tourism and transport sectors were severely hit, leading to a noticeable slowdown in loan repayments.
“The hotel bookings are still low, though there are signs of recovery after the introduction of the Vande Bharat Express and commencement of the Amarnath Yatra. Still, the Pahalgam attack did impact repayment behaviour,” he said.
However, the CEO praised the resilience of local borrowers. “Despite the circumstances, slippages have remained below one percent. People are trying their best to repay. And we are helping them wherever possible.”
To further assist affected borrowers, the bank has proposed that the region be declared a “disturbed area” for banking purposes—a move that would allow rescheduling of loans and other relief measures. According to Chatterjee, a government notification in this regard is expected shortly.
“Once that happens, we can provide rephased loans and, if needed, additional credit support to those affected,” he said.
In the face of both physical and digital threats, J\&K Bank’s swift response and robust security systems have not only protected its digital infrastructure but also demonstrated a commitment to support its customers through trying times.
