RBI warns banks against increasing cyber attacks

Posted By: Religare
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RBI warns banks against increasing cyber attacks
The Reserve Bank of India (RBI) on Wednesday asked banks to maintain an up-to-date information system (IS) amid increasing cyber attacks in the country.

The central bank also asked banks to form Business Continuity Plans (BCPs) and test them periodically to see whether it covers all the policies, standards and procedures to ensure continuity, resumption and recovery of critical business processes.

RBI said that BCPs should also ensure the impact of any disaster is limited on people, processes and infrastructure. BCP should contain steps taken to minimise the operational, financial, legal, reputational and other material consequences arising from such a disaster, the central bank said.

To fight effectively with real disaster situations, RBI asked banks to conduct disaster recovery drills also.

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