Search
Banks Asked for Periodic Vulnerability Test by RBI For Cyber Security
August 10, 2017
The Reserve Bank of India (RBI) has issued a Cyber-Security Framework for the banks to prepare them for any kind of cyber security attack in the future, Minister of State for Finance Santosh Kumar said in a written reply to the Rajya Sabha.
Apart from issuing directions to the banks regarding ransomware attacks such as updating anti-virus systems, installing appropriate patches, etc. the RBI has also started monitoring the performance of the banks through both off-site and on-site inspections.
According to Kumar, banks lost about Rs. 204 crore last year to debit card and credit card frauds.
