New Delhi, 29th January 2026: As day-to-day aspects of life have moved online, cybercrime is becoming increasingly frequent and sophisticated, with fraudsters leveraging social engineering, data misuse, and impersonation tactics to target individuals.
India’s digital ecosystem is expanding rapidly, underpinned by widespread smartphone use and growing digital adoption. December 2025 alone saw 21.63 billion transactions worth ₹27.97 trillion, according to the National Payments Corporation of India (NPCI). This surge also reflects the growing adoption of digital tools and platforms, highlighting India’s shift toward a more connected, digitally integrated economy.
According to data from the National Cyber Crime Reporting Portal (NCRP) and the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS), cyber fraud losses in India jumped to ₹22,845.73 crore in 2024 from ₹7,465.18 crore in 2023, a 206% year-on-year surge, highlighting the rapidly escalating scale of cybercrime nationwide.
SBI General Insurance reinforces the importance of safeguarding personal data, underscoring the need to embed data protection at the core of digital adoption. As digital dependence grows, cyber insurance is emerging as a critical layer of protection offering not just financial cover, but comprehensive support to help individuals and families recover and move forward with confidence.
Here are key reasons why cyber insurance is essential in today’s digital world:
● Identity Theft Protection: Covers financial losses arising from identity theft, including unauthorized use of personal information or fraudulent transactions. Supports legal recourse against perpetrators to help restore your digital identity.
● Theft of funds: Cyber insurance covers losses from unauthorised access to your finances, including bank accounts, credit cards, debit cards, digital wallets, etc. Any legal costs necessary to prosecute cybercriminals are covered as well.
● IT Specialist and Data Restoration: Reimburses costs for engaging IT experts to investigate cyber breaches, restore lost data, or secure affected devices. Ensures timely technical support to limit damage and resume normal operations.
● Psychological Consultation: Covers professional counseling or therapy to address stress, trauma, or emotional impact resulting from cyber violations. Supports mental well-being alongside financial and technical recovery.
● Loss of Wage Due to Identity Theft: Compensates for income lost as a direct consequence of identity theft. Helps maintain financial stability while resolving the aftermath of cyber incidents.
● Family Coverage Extension: Policyholders can extend protection to their immediate family, including spouses and dependent children. This ensures that the entire household benefits from a robust safety net against cyber threats.
SBI General’s cyber offering delivers holistic support through every stage of recovery. With this comprehensive approach, SBI General’s Cyber VaultEdge offers extensive and comprehensive protection against a spectrum of cyber risks, including data breaches and cyber extortion. Designed to meet the demands of today’s digital world, the policy provides financial security while offering reassurance to policyholders and their families.
With SBI General’s Cyber VaultEdge, individuals and families can navigate the digital world with confidence, backed by comprehensive protection against evolving cyber risks ensuring security, resilience, and peace of mind.
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January 28, 2026
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