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ELECTIVE IT & DB SYLLABUS PRIORITY 2024
What is the primary regulatory framework governing IT security in Indian banks as per RBI guidelines?
RBI's IT Framework for Banks (2011) and subsequent Master Directions on IT Governance, Risk, Controls and Assurance Practices (2023) form the primary regulatory framework, mandating banks to establish IT governance structures and cybersecurity policies.
What is 'machine learning' and how is it used in banking fraud detection?
ML algorithms identify patterns to flag suspicious transactions automatically.
What does 'Digital Banking' mean as per the RBI Master Direction on Digital Payment Security Controls?
Digital banking refers to delivering banking products and services through electronic channels including internet banking, mobile banking, and other digital platforms, governed by RBI's Digital Payment Security Controls framework issued in 2021.
What is a 'digital wallet' and which regulations govern its issuance in India?
A digital wallet stores payment credentials; governed by RBI PPI Master Directions.
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