NSE CEO Warns India of AI-Driven Cyberattack Risks
Ashish Kumar Chauhan urged Indian stockbrokers to strengthen cybersecurity and requested a special task force to combat AI-driven hacking and quantum computing threats.
National Stock Exchange (NSE) MD and CEO Ashish Kumar Chauhan warned stockbrokers on October 24 that AI-driven cyberattacks and quantum computing pose critical threats to the integrity of India's capital markets. Speaking at the 16th ANMI International Capital Market Convention in Mumbai, Chauhan cited a national emergency in Japan and sophisticated AI attacks on major American banks as evidence of a global wave of hacking.
Chauhan urged the Association of National Market Intermediaries (ANMI) to establish a Special Task Force on Cybersecurity to guide and shield members over the next one to three years. He noted that the NSE is currently reviewing its own network for vulnerabilities and advised brokers to enhance their internal capabilities or engage external advisers to maintain the integrity of the trading framework.
These warnings follow recent security incidents in India, including a data breach at State Bank of India and fraud warnings from Punjab National Bank. During the convention, Chauhan also highlighted the growth of India's listed market capitalization to ₹460 lakh crore and praised SEBI Chairman Tuhin Kanta Pandey for regulatory reforms that have improved operational efficiency and investor protection.
