RBI Guideline: Reserve Bank of India (RBI) The Reserve Bank of India on Friday issued a draft Master Direction on Cyber Resilience and Digital Payment Security Controls for Payment System Operators. The central bank has sought comment on the matter by June 30. These can be sent by email or post to the Chief General Manager, Payment and Settlement Systems Department, Head Office, Mumbai, RBI. The draft guidelines cover governance mechanisms for the identification, assessment, monitoring and management of cybersecurity risks, including information security risks and vulnerabilities, and set out basic security measures to ensure secure digital payment transactions.
Stamped on the April 8 ad
The RBI had announced on April 8 that it would issue instructions on the cyber resilience and Payment Security Controls of Payment System Operators (PSOs). The guidelines state that in order to effectively identify, monitor, control and manage cyber- and technology-related risks arising from PSOs’ links to unregulated entities that may be involved in their digital payment ecosystem (such as payment gateways). payment, third-party service providers, vendors, merchants, etc.), PSOs will, subject to mutual agreement, ensure that such non-regulated entities also follow these instructions.
they will be responsible
This is the Board of Directors of the PSO. You will be responsible for ensuring proper monitoring of information security risks, including cyber risk and cyber resilience. However, primary oversight may be entrusted to a subcommittee of the Board that will meet at least quarterly. In addition, RBI has asked PSOs to prepare a separate board-approved Cyber Crisis Management Plan (CCMP) to detect, control, respond to, and recover from cyber threats and cyber-attacks. In addition, the PSO will conduct cyber risk assessment exercises related to launching new products, services, or technologies or making major changes to the infrastructure or processes of existing products or services.
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