The bank said the attack, which exploited "a flaw" in the Windows operating system, illustrates just how many businesses have delayed upgrading their operating systems to Windows 10. It has been reported that a new ransomware "WannaCry" is spreading widely, RBI advisory to the banks said.
They are having more luck dissecting flaws that limited its spread.
Kaspersky Lab researcher Kurt Baumgartner told Reuters there is evidence that the attacks came from North Korea.
Microsoft has introduced a security patch to tackle the situation, and consumers across the globe have been advised to download the solution at the earliest.
Cyber security emergency response appears to have prevented a fresh round of attack from a ransomware virus that has hit more than 300,000 computers across the world. In Windows XP these numbers are not deleted from the computer's memory at the end of the process, although they can be overwritten. Windows computers that are not up to date on security updates from Microsoft are vulnerable to infection. "If you are not using a security solution we strongly recommend you install protection".
If you're facing a ransom demand and locked out of your files, law enforcement and cybersecurity experts discourage paying ransoms because it gives incentives to hackers and pays for their future attacks.
"The government can't do this alone - they're really going to have to reach out and work with Apple, with Microsoft and Google", Martin said. Win8 is still very much supported by Microsoft.
Speaking to BBC Breakfast, Mr Wallace said that IT staff had worked around the clock over the weekend to patch security systems and restore files at NHS trusts across the country.
Some major technology companies, including Alphabet Inc.'s Google and Facebook Inc., declined comment on the Microsoft statement.
On Sunday, the USA software giant called on intelligence services to strike a better balance between their desire to keep software flaws secret - in order to conduct espionage and cyber warfare - and sharing those flaws with technology companies to better secure the internet.
Experts say the attackers might get more than $1 billion from the scam, although as of Saturday, only $33,000 was deposited into several Bitcoin accounts associated with the ransomware. The first one Lucifer happened past year which locked computers of banks and pharmaceutical companies.
"You'll wanna cry definitely when you run into it", said Matt Staats, senior field agent for Connecting Point Computers in Peru. The numbers are erased from memory when the machine is rebooted, however.