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RBI GUIDELINES ON CYBER SECURITY
What is the primary RBI circular that mandates cyber security frameworks for banks?
RBI issued the 'Cyber Security Framework in Banks' circular in June 2016, directing all scheduled commercial banks to put in place a robust cyber security framework commensurate with their risk profile.
What is the RBI's mandate for banks regarding Board-level oversight of cyber security?
Board must approve and own the cyber security policy annually.
What does RBI require banks to establish as part of their cyber security governance?
RBI requires banks to establish a Board-approved Cyber Security Policy distinct from their IT policy, along with a Cyber Crisis Management Plan (CCMP).
What is the role of the IT Sub-Committee of the Board as per RBI guidelines?
It provides oversight of IT strategy, risk and cyber security matters.
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