Recently, RBI has imposed penalties upon 19
commercial banks like Axis Bank Ltd, Barclays Bank PLC, HDFC Bank
Ltd, ICICI Bank Ltd, Kotak Mahindra Bank Limited, Yes Bank Ltd, BNP
Paribas, Citi Bank NA, Credit Agricole – CIB, Development Credit
Bank Ltd, ING Vysya Bank Ltd, Royal Bank of Scotland, Standard
Chartered Bank, State Bank of India, Bank of America NA, DBS Bank
Ltd, Deutsche Bank AG, Hongkong and Shanghai Banking Corporation Ltd
and JP Morgan Chase Bank NA.
RBI has been taking many pro active reforms for the
Banking Sector of India, says Praveen Dalal, managing partner of New
Delhi base ICT law firm Perry4Law
and leading cyber law expert of India.. RBI is not only ensuring
strict compliance with various Laws, Regulations and Norms but is
also prescribing various Policies and Strategies for Effective and
Secure Banking in India, informs Dalal. Ensuring Cyber Security for
preventing Cyber Crimes has been recently directed by RBI that all
Commercial Banks of India must follow, informs Dalal.
However, although the directions of cyber security are of great interest yet banks have failed to comply with the same. For instance, till now the directions of RBI to appoint CIOs and steering committee has not been followed by banks of India. Similarly, banks of India are also at fault for ignoring the cyber security requirements.
However, although the directions of cyber security are of great interest yet banks have failed to comply with the same. For instance, till now the directions of RBI to appoint CIOs and steering committee has not been followed by banks of India. Similarly, banks of India are also at fault for ignoring the cyber security requirements.
See Cjnews India for more.
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