Indian banking sector to be hit with Microsoft withdrawal of support for XP
March 4, 2014‐ Mumbai, India
With PC Operating System software maker Microsoft Corporation deciding to withdrawing support for its Windows XP Operating System, many Indian banks are getting exposed to security risks, says a report released by Ascentius Consulting. The report says as many as 34,000 bank branches would be running on the Win XP OS that whose support will be withdrawn from April 8, 2014.
Though banks have been working fast to migrate to newer operating system, time left is too little to make the migration and this will mean that at least 20 to 30 percent of PCs running at bank branches will remain with Win XP. Personal computers at 70% of rural public sector branches, 60% in semi-urban public sector branches, 40% in urban and metro public sector branches are still on Windows XP.
Though Microsoft has only spoken about the withdrawal of official support, it is still unclear if security patches will be released after the said date. Without the latest security updates, computers running at bank branches would become exposed / vulnerable to security attacks including hacking.
Other top banking news
- Bharatiya Mahila Bank aims at adding 55 new branches in FY 2014-15 (March 11, 2014)
- Indian banking sector to be hit with Microsoft withdrawal of support for XP (March 4, 2014)
- Withdrawal of old Currency Notes in circulation in India (February 22, 2014)
- Linking of MNREGS with the Banking System (February 22, 2014)