New Delhi: In a bid to handle financial crimes like the 2G scam, coal block irregularities and capital market scams, the Union government has decided to set up a centralised technology vertical (CTV) in the Central Bureau of Investigation (CBI).

The cost of the CTV has been pegged at Rs 99 crore and will provide real-time support using data warehouses, equipped with big data analytics and data mining tools.

Union Minister Jitendra Singh, speaking at the first National Conference on Cybercrime Investigation and Forensics, said that the CTV would be operational by next year.

“It will help in getting real-time information for the benefit of interrogators,” said the Personnel, Public Grievances and Pension Minister at the CBI headquarters.

Singh urged the non-government organisations and activists to join the ‘crusade to counter cybercrime’ by changing the ‘mindset’ of the masses saying that tackling cybercrime can’t be left to the CBI alone.

The minister also congratulated the CBI for organising the first national conference of its kind.

“India is still evolving as a nation and organisations, like the CBI, help add credibility to democracy. The CBI has gained a high degree of credibility over the years and it has become a benchmark for an investigation into crimes,” he said.

Referring to the evolving nature of crime with the progression of society, Singh said it was essential for investigative agencies to transform their techniques.

The proposal for setting up the CTV was mooted in 2015 by former CBI director Anil Sinha.

He said the study of cybercrime was important, keeping in mind that India had a huge population and the second-largest number of Internet users in the world.