The Reserve Bank of India, RBI has asked banks to speed up its process of setting up IT and IS governance systems. In a notification issued on Wednesday, RBI has asked banks to improve their IT governance structures and evolve well defined Information Security frameworks. These systems will be useful in mitigating operational risks and help banks to effectively and efficiently improve their performance. RBI has further asked banks to develop and deploy suitable systems to submit their returns through Automated Data Flow. A complete implementation of the systems required should be done by March 2013. In a different notification, RBI has asked banks to put in place a Board approved policy on classification of unclaimed deposits or inoperative accounts. in order to further strengthen the regulatory framework and with due diligence of KYC norms, RBI has once again asked banks to display list of unclaimed deposits or inoperative accounts which have been inactive or inoperative for ten years or more on their websites by June 30, 2012.