ELECTIVE IT & DB SYLLABUS PRIORITY 2024
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Information Technology and Digital Banking (Elective) — CAIIB.
One-liners from this chapter
Free sample — 8 of 65 rapid-fire Q&A cards.
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.
Which RBI circular mandates a Chief Information Security Officer (CISO) in Indian banks?
RBI's Master Direction on IT Governance, Risk and Controls (2023) mandates that scheduled commercial banks appoint a dedicated CISO responsible for defining and implementing information security policy independent of the IT function.
What is 'blockchain technology' and its potential application in trade finance?
Blockchain is a distributed ledger enabling secure, transparent trade transaction records.
What is the significance of the IT Act 2000 and its 2008 amendment for banks?
The IT Act 2000 and its 2008 amendment provide legal recognition to electronic transactions, digital signatures, and data protection; Section 43A makes companies (including banks) liable for negligent handling of sensitive personal data.
What is 'Internet of Things' (IoT) and its relevance to banking operations?
IoT connects devices enabling smart ATMs, real-time monitoring, and connected banking services.
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