Indian Banks' Association issues vulnerability advisory to all banks that still run Windows XP Written by Manish Singh on February 04, 2014, 09:37AM
Indian Banks' Association (IBA) has issued an advisory to all banks to take necessary measures to ensure business continuity after Windows XP is reaches its end of life. This affects over 34,000 branches of public sector banks who still have Windows XP running.
A few weeks ago, we learned how most of the ATM(s) around the world are still running the 13-year-old operating system. According to an estimate, over 34,000 public sector banks shall be vulnerable come April 8th, at least in India.
The study also projects a loss of business opportunity worth Rs. 1,100 crore ($175 million, 956 thousand) in a day and a loss of income worth Rs. 330 crore ($52 million, 786 thousand) over a period of 3 days.
"We request you (banks) to kindly arrange to take cognizance of the news item and take steps as may be necessary to mitigate the risk of disruption in banking services," IBA Deputy Chief Executive K Unnikrishnan said.
Windows XP's end of support deadline is due in 2 months. Commenting on the ongoing progress, Microsoft India GM (Windows Business), Amrish Goyal said: "We have been in touch with most of the banks on this issue, but we [have] not see[n] any acceleration in their pace over this."
Microsoft has welcomed the IBA's advisory, and believes that it will help the bank take some preventive measures. To help them make the big switch, Microsoft is giving special offers on purchasing its new operating system. "It seems banks are being dismissive about the risks that are involved here. Some vendors are also less cautious on this issue. We also have special offers for banks to encourage them to upgrade their systems," Goyal said.
Windows XP launched in October of 2001 and reaches its end of life on April 8th, 2014.