RBI GUIDELINES ON CYBER SECURITY
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Information Technology and Digital Banking (Elective) — CAIIB.
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Free sample — 8 of 66 rapid-fire Q&A cards.
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.
What is the role of the Chief Information Security Officer (CISO) as per RBI guidelines?
RBI mandates that banks appoint a dedicated CISO who is responsible for articulating and enforcing policies to protect the bank's information assets, and who should report directly to the Board or a senior executive.
What is 'Cyber Security Policy' that RBI mandates every bank to have?
A documented policy covering risk assessment, controls, and incident response.
What is the purpose of the Cyber Crisis Management Plan (CCMP) under RBI guidelines?
The CCMP outlines procedures for detecting, containing, responding to, and recovering from cyber incidents, ensuring business continuity and minimising damage during a cyber attack.
What does RBI require banks to submit to it regarding cyber security incidents?
Banks must report cyber incidents to RBI within 2-6 hours of detection.
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