MSC Bank launched India’s 1st Cyber Security Operations Centre (C-SOC)

To protect cooperative banks from growing cyber threats, the Maharashtra State Cooperative Bank (MSC Bank) has taken a major step by launching the country’s first cyber-security operations centre (C-SOC). This centre, named “Sahakar Suraksha”, has been set up in Vashi, Navi Mumbai, and was built at a cost of ₹50 crore.

Why was it needed? According to MSC Bank Chairman Vidyadhar Anaskar, there has been a sharp rise in cyberattacks on cooperative banks across India. In recent years, over 10 lakh cyberattacks have been recorded, causing financial losses worth crores of rupees. In one major fraud case alone, the loss was around ₹50 crore.

Anaskar explained that most cooperative and rural banks do not have strong cyber security systems. They lack trained IT staff and enough funds to build proper defences against hackers and online fraud. Because of this, MSC Bank took the initiative to create a shared cyber-security facility that can be used by other cooperative banks as well.

What does the C-SOC do? The newly launched C-SOC provides round-the-clock (24/7) monitoring and protection from cyber threats. It uses artificial intelligence (AI) to detect suspicious activities and send alerts in real-time. If any bank under the system faces a threat, it will be immediately warned so action can be taken on time.

For example, a cooperative bank in Sindhudurg recently faced a serious cyber threat. Thanks to the C-SOC’s early warning system, the bank was alerted in time and the funds were protected.

Who will benefit? The C-SOC is designed to help 31 district central cooperative banks in Maharashtra. The most important part is that these services are being provided free of cost to the member banks. This means even small banks with limited resources can now have access to high-quality cyber protection.

Anaskar said, “This is a true cooperative effort. We are not charging anything for this service because we believe in supporting each other.”

How does it work? The C-SOC is operated by a team of 35 trained cyber security professionals. They work in shifts to make sure the system is active and secure 24 hours a day, 7 days a week. The team is responsible for watching out for threats, analysing data, and issuing alerts.

MSC Bank is also planning to train the staff of cooperative banks to improve their awareness of cyber risks. This training, called cyber hygiene, will help bank employees understand how to avoid common mistakes like clicking on suspicious emails or using weak passwords.

Chairman Anaskar said this project is not just about technology; it’s about protecting the trust of rural and small-town customers who rely on cooperative banks. With more and more banking now happening online, he said, cyber security is no longer optional – it’s a must.

He also said that this initiative could become a model for other states, helping the entire country strengthen the digital safety of cooperative banks.

The launch of the Sahakar Suraksha C-SOC marks a big step forward in making cooperative banking safer and more modern in the digital age.