IBA issues advisory to banks on use of Win XP

The Indian Banks Association (IBA) has issued an advisory to banks to ensure business continuity after Microsoft ends support for its popular Windows XP operating system on April 8. IBA, in its advisory, drew the attention of the banks to a study by Microsoft, which estimates that over 34,000 branches of public sector banks would become vulnerable following the US-based firm’s decision to stop support to Windows XP. The fiscal impact of this could be as much as a loss of business opportunity worth Rs 1,100 Cr in a day and a loss of income worth Rs 330 Cr over a period of three days (assuming that a major incident may take three days for the systems to come up to normal functioning), the study had said.