Average Cost of Data Breaches in India hits over USD 2 million, reveals RBI report; Phishing tops list of cyber threats – Technology News

The average cost of a data breach in India increased by 28% from 2020 to 2023, hitting $2.18 million, according to the Reserve Bank of India. Phishing attacks are the most common form of breach, followed by stolen credentials. The growth correlates with the rise of India’s digital economy, which is set to reach 20% of the country’s GDP by 2026.