Attack on Indian banks is nothing new as not all are bothered to secure their customers. In August-2007, Bank of India’s security was compromised and look how they and the cybercrime authorities reacted to the complaints.
In a report released by Syamntec, phishing attacks on Indian banks has risen by a whopping 6 fold [IPL 20-20 Sixer ?] Most of the attacks are localized, subtle and targeted. Their were 120 attacks in Jan-2008 involving various Indian banks.
Apart from Phishing scams, Indian bank websites lack minimal security. Except HDFC Bank, none take measures to display a visual keyboard to protect user’s passwords for online banking. If this story about US-China hacking war is to be believed, then forget banks, the Government of India must brace up for such an emergency.