RBI suggests five-pillared approach to deal with cybersecurity issues in UCBs

The Reserve Bank today came out with a five-pillared strategic approach 'GUARD' to deal with cyber security threats being faced by Urban Cooperative Banks (UCBs).   The RBI said in its document 'Technology Vision for Cyber Security for Urban Cooperative Banks 2020-2023' that the number, frequency and impact of cyber incidents and attacks have increased manifold in the recent past, more so in the case of the financial sector, including UCBs.   Therefore, it has...