RBI Announces Setting Up of Standing Committee on Cyber Security (Download PDF)

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Reserve Bank of India (RBI) has decided to set up a Standing Committee on Cyber Security. The priority of committee is to examine various threats and to suggest measures to deal with. RBI instructed banks to mandate cyber security preparedness for addressing all cyber risks.

RBI to set up committee on strengthening cyber security

RBI to Set up Committee on Strengthening Cyber Security

RBI to set up committee on strengthening cyber security

Highlights

  • Reserve Bank of India (RBI) has decided to set up an inter-disciplinary Standing Committee on cyber security to examine various threats and suggest measures to deal with it.
  • Committee will suggest appropriate policy interventions to strengthen cyber security and resilience in a bid to strengthen cyber security system.
  • Committee has been set up based on recommendations of expert panel on information technology examination and cyber security headed by Meena Hemachandra.
  • In recent times, banks have taken steps to strengthen their defenses against cyber-attacks, still diverse and ingenious nature of recent attacks has necessitated an ongoing review of cyber security landscape and emerging threats.
Types of Cyber-crimes

Types of Cyber-crimes

Types of Cyber-crimes

Functions of Committee

  • Review threats inherent in existing or emerging technology on an ongoing basis.
  • Study adoption of various security standards and protocols and also act as interface with stakeholders.
  • Suggest appropriate policy interventions to strengthen cyber security and resilience.

About RBI

  • Central banking organization in India.
  • Controls the financial policy around Indian rupee.
  • Founded on 1st April 1935 during the British Rule.
  • Nationalized on 1st January 1949.
  • Four headquarters are at Mumbai, Kolkata, Chennai, and New Delhi.
  • Leading member of the Alliance for Financial Inclusion.
  • It has 19 regional offices, most of them in state capitals and 9 Sub-offices.
Objective and Main Functions of RBI

Objective and Main Functions of RBI

Objective and Main Functions of RBI

- Published/Last Modified on: March 17, 2017

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