This comes in the backdrop of India's financial services sector facing severe scrutiny after nearly 32 lakh debit cards were affected following a security breach at some of the biggest banks in India such as State Bank of India, ICICI Bank, Axis Bank, Yes Bank. According to the National Payments Council of India, this episode involved fraudulent withdrawals of a reported Rs 1.3 crore from cards of 19 banks. According to 2015 report by PwC, organisations in India detected an average of 6,284 cyber security incidents, surging up 117 per cent over the previous year's average of 2,895 incidents. This was much higher in comparison with the international trend, which witnessed only a 39 per cent increase in security incidents.