From Chanakya’s Arthashastra to Industry 5.0: A Neo-Vedic Framework for E-Banking Cybersecurity in the Indian Legal System

Abstract

Cybersecurity in e-banking has become a critical concern in India’s financial sector, demanding robust legal and strategic frameworks. This paper explores a neo-Vedic approach to cybersecurity by drawing parallels between ancient principles from Chanakya’s Arthashastra and the demands of modern Industry 5.0 technologies. Through doctrinal legal analysis and comparative framework evaluation, authors examined how age-old wisdom on governance, espionage, and statecraft can inform contemporary cyber defense strategies. Authors analyzed current Indian cybersecurity statutes – including the Information Technology Act of 2000 (and its amendments), Reserve Bank of India (RBI) guidelines, and emerging data protection laws – in the context of e-banking. Balancing historical-philosophical foundations with modern technological elements (such as Artificial Intelligence (AI) and the Internet of Things (IoT) under Industry 5.0), authors proposed a Neo-Vedic cybersecurity framework. This framework emphasizes ethical duty (dharma), strategic intelligence (chanakya-neeti), and collaborative defense, aligning ancient principles with cutting-edge practices. The analysis highlights gaps in the current legal regime and offers recommendations to strengthen India’s cyber law architecture for banking. The study concludes that integrating timeless strategic wisdom with modern technological safeguards can enhance cyber resilience in e-banking, fostering a secure digital banking environment consistent with Indian cultural values and international best practices.