SBI cuts base rate by 30bps to 8.65%
SBI cuts base rate by 30bps to 8.65%

SBI denies data breach


The State Bank of India has denied reports that its servers have been compromised last week and assured that all its customer data continue to remain safe and secure.

According to a news item the SBI has some unprotected servers which gave access to the financial information of its millions of customers to anyone looking for it. The report, however, did not quantify as to how many of SBI's over 42.2 crore customers were hit.

The bank said it has thoroughly investigated the matter after it was brought to the notice. 'Our investigation has revealed that our servers are fully protected and there was no breach at all,' the bank tweeted Friday and assured that data of all its customers are safe and secure.

The report had claimed that the SBI servers stored two months of data from SBI Quick, a service that involves banking by giving a missed call or sending an SMS. It said the bank did not protect the server with a password, making access to customers’ data open to anyone looking for it.

The bank said the incident under question relates to a service in which account information is quickly made available to a customer through an ongoing SMS service after taking care to mask account details so that customer data is protected.

The masking in any case ensures that there is a basic protection for the customer data. The process uses services of telecom companies and aggregates who have experience in the field and there are strict protocol are set up for these players.

'The investigation has revealed that there was a mis-configuration or lacuna in their process that arose on January 27 and was subsequently rectified,' the bank said.