The proliferation of newly developed technologies is a boon to society. At the same time, it showed the way for new types of technological crimes, particularly cybercrimes. In recent years, cybercrime becomes one of the greatest threats to humanity. Safeguarding against cybercrime is a vital part of every government. Cybercrime could be originated from any part of the world, crossing the international boundaries over the internet resulting in damages to the governments, organizations, and public. The technical and legal complexities of investigating and prosecuting these crimes are the foremost task for law enforcement agencies. Cybercrime is the most common threat for financial markets. Cyber-attacks have already caused considerable damage to retail banking, mainly through payment card scams and cyber frauds. In India, the Information Technology Act and its associated Rules and Regulations deal with cybersecurity and cybercrimes. Other laws contain some of the provisions of cybersecurity protection are the Indian Penal Code 1860 (IPC), and the Companies (Management and Administration) Rules 2014. But none of these laws is a dedicated cybersecurity law. Some sector-specific regulations like the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (IRDA), the Department of Telecommunication (DOT), and the Securities Exchange Board of India (SEBI) have mandated their respective entities to adhere to cybersecurity standards prescribed by the regulators. The long wait Data Protection Act with international perception is yet to be released. However, we need to fight against cyber criminals effectively to cope up with the international requirements. The salient purpose of this article is to find implementable solutions to curtail the growing menace of cybercrimes in India.