Saturday, December 8, 2012

Internet Banking And RBI Guidelines In India

Internet banking is all set for a big growth in India. With increasing emphasis upon e-governance and e-commerce, Internet banking in India would be used more frequently. However, along with the benefits of use of Internet banking, the cyber crimes and financial fraud risks are also increasing.

Cyber security of banks in India is still not given a priority. Banks are not interested in ensuring cyber security of electronic transactions. Even the recommendations of Reserve Bank of India (RBI) to ensure cyber security, appointment of chief information officers (CIOs), establishing a steering committee at board level, etc have remained unfulfilled. Even RBI has warned banks for inadequate cyber security.

See Corporate Laws Of India for more.

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