RBI Panel to Review Cyber Threats

The Reserve Bank has declared to construct an inter-disciplinary standing committee on cyber security to review the threats inherent in the existing and emerging technology.

The 11-member committee will also study adoption of various security standards and protocols, interface with stakeholders and suggest appropriate policy interventions to strengthen cyber security and resilience, the central bank said. Going forward, the committee headed by Meena Hemchandra, Executive Director, RBI, can co-opt more experts and also operate through a framework of sub-committees to examine specific issues, it said.

The RBI had issued guidelines to banks in June last mandating cyber security preparedness to tackle risks.