India’s average data breach cost topped $2 million in 2023: Cenbank report

The average cost of a data breach in India jumped 28% between 2020 and 2023 to little more than $2 million, according to the Reserve Bank of India’s (RBI) report on currency and finance released on Monday.

The report did not specify what the cost comprises of or who it is borne by.

The industry-wise distribution of cyber attacks shows that the automotive industry is the most vulnerable to such incidents, the report said.