RBI deputy governor Swaminathan J said the potential impact of a cyberattack on a bank's operations, reputation, and financial stability cannot be "overstated", as he emphasised the need for proactive risk mitigation strategies. Speaking at the Conference of Heads of Assurance of Urban Cooperative Banks here on Thursday, the deputy governor said that in the ever-changing landscape of banking, new risks constantly emerge. While traditional risks like credit, market and liquidity risks remain significant, new challenges like cybersecurity threats and operational disruptions have emerged. The proliferation of digital technologies and the interconnected nature of financial systems have exposed banks to a myriad of cyber threats, ranging from data breaches to malicious ransomware attacks, he added. "The potential impact of a successful cyberattack on a bank's operations, reputation, and financial stability cannot be overstated, underscoring the critical importance of robust cybersecurity