New Delhi, February 28: The Reserve Bank of India (RBI) has set up an Inter-disciplinary Standing Committee on Cyber Security to review the threats in the existing and emerging technology. Apex bank said, the committee, headed by an RBI Executive Director, can co-opt more experts and also operate through a framework of sub-committees to examine specific issues.The main aim of this committee would be to review the threats inherent in the upcoming and existing technology, adoption of security protocols, interface with various stakeholders and suggest possible policy interventions to strengthen cyber security preparedness of the banking system.
In a release, the RBI today said, the 11-member committee will study adoption of various security standards and protocols, interface with stakeholders and suggest appropriate policy interventions to strengthen cyber security and resilience.
The RBI had earlier issued guidelines to banks mandating cyber security preparedness to tackle cyber risks. The Statement on Developmental and Regulatory Policies had proposed constitution of an inter-disciplinary standing committee on cyber security.
Meanwhile, Public banks across the country remain closed today as staffers and officers went ahead with their day-long strike pressing for various demands. Services like cash deposits and withdrawal from branches and cheque clearances have been hit hard by the strike called by the United Forum of Bank Unions.
Bank employees are also demanding compensation for extra hours they put in following demonetisation and early initiation of next wage revision. Their demand is also for adequate recruitment in all cadres, stringent measures to recover bad loans and accountability of top executives. The unions are also opposed to the proposed labour reforms of the government and outsourcing of permanent jobs in the banking sector.