During a Risk Management Summit organized by the Indian Banks' Association (IBA), M Nagaraju, the Financial Services Secretary of India, raised concerns about the risks associated with Anthropic's Mythos AI model. He pointed out that banking risks now extend beyond traditional financial metrics to include geopolitical developments, technology, and cyber threats. Nagaraju warned that a single successful cyberattack could have cascading effects across financial institutions and markets. He emphasized the vulnerability of banks due to their reliance on legacy IT systems and the need for operational continuity to maintain financial stability. To mitigate these risks, he called for banks to enhance their cyber capabilities, strengthen incident response strategies, and continuously test their resilience. As the financial sector becomes more interconnected, Nagaraju urged banks to consider systemic and ecosystem-level risks, as interdependencies can lead to rapid risk propagation.