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Banks Must have IT Expertise at Board Level: RBI
November 13, 2017
In light of the increasing cyber attacks in the financial services sector, the Reserve Bank of India (RBI) said that banks must have a board with IT expertise so that they are able to implement the appropriate measures for tackling this problem.
RBI’s Executive Director Meena Hemchandra, who was present at a cybersecurity summit organized by the CII, said that as banks are increasingly becoming technology-driven, it’s all the more important for them to have IT expertise at board level.
She also said that apart from cybersecurity, financial institutions must have crisis management plans in place as well.
