RBI sets up panel to review cyber threats

Based on the recommendations of the Expert Panel on Cyber Security and Information Technology Examination, the RBI had issued guidelines to banks in June last year mandating cyber security preparedness to tackle cyber risks.

“While banks have taken several steps to strengthen their defences, the diverse and ingenious nature of cyber attacks necessitates an ongoing review of the cyber security landscape and emerging threats,” the RBI said.

The Statement on Developmental and Regulatory Policies, issued along with the sixth bi-monthly monetary policy statement on February 8, 2017, had proposed constitution of an inter-disciplinary standing committee on cyber security.

From agencies, Featured image courtesy livemint