RBI issues new directions to banks, NBFCs on IT governance & cyber security ...Middle East

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RBI issues new directions to banks, NBFCs on IT governance & cyber security
Mumbai: The RBI has issued a new comprehensive Master Direction to banks and NBFCs on Information Technology Governance, Risk, Controls and Assurance Practices which spells out the role of Directors of these regulated entities to discharge their duties in order to safeguard the interests of customers. These directions incorporate, consolidate and update the guidelines, instructions and circulars on IT Governance issued earlier and will come into effect from April 1, 2024. The guidelines havedirected all regulated entities to keep a close watch on: ‘Cyber events’defined as any observable occurrence in an information system. Cyber events sometimes provide indication that a cyber incident is o

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