June 27, 2013 2:02 PM

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RBI asks banks to periodically assess preparedness against cyber attacks

The Reserve Bank has directed the banks to periodically check their preparedness to prevent any cyber attack.In a communication to heads of banks, it said that there is a need to ensure that gaps identified from the testsare plugged in a timely manner. This should form part of the information security assurance function undertaken by banks, it added.RBI has been emphasising to banks on the importance of putting appropriate IT and information system (IS) governance structures to enable, interalia, better control and security.It further said that formulation of consolidated business continuity plans (BCPs) documents by banks covering critical aspects of people, process and technology is important in view of the increased contribution of 24×7 electronic banking channels.

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