Reserve Bank of India releases Technology Vision for Cyber Security for Urban Co-operative Banks. The Reserve Bank of India has released the Technology Vision for Cyber Security’ for Urban Co-operative Banks (UCBs) – 2020-2023. The main aim of this is to enhance the cyber security posture of the Urban Co-operative banking sector against evolving IT and cyber threat environment. RBI has planned to achieve this objective through its five-pillared strategic approach ‘GUARD’.
G – Governance Oversight
U – Utile Technology Investment,
A- Appropriate Regulation and Supervision
R – Robust Collaboration
D – Developing necessary IT, cyber security skills set.
The Technology Vision Document for Cyber Security for Urban Co-operative Banks, with its 12 specific action points, aspires to
(a) Involve more Board Oversight over Cybersecurity;
(b) Enable UCBs to better manage and secure their IT Assets;
(c) Implement an offsite supervisory mechanism framework for UCBs on cyber security-related controls;
(d) Develop a forum for UCBs so that they can share best practices and discuss practical issues and challenges
(e) Implement framework for providing awareness/ training for all UCBs.
- Governor: Shaktikanta Das
- Headquarters: Mumbai
- Founded: 1 April 1935, Kolkata.
1) Who has been appointed as New Administrator of PMC Bank by RBI? – AK Dixit
2) RBI Mandate Banks to fully automate NPA Recognition Process by – June 30, 2021
3) Whose panel recommendations are accepted by RBI on Specifies Parameters for Loan Restructuring? – Kamath Panel
4) Recently, RBI announced additional OMO of how many crore rupees to ensure orderly market conditions? – Rs 20,000 crore
5) As per RBI Annual Report India’s Growth Projected at what per cent in 2019-20? -4.5%
6) RBI signed USD 400 mn currency swap facility with which country? – Sri Lanka
7) Name the Book which is authored by Former RBI Governor Urjit Patel? – Overdraft Saving the Indian Saver
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