RBI plans IT wing to tackle cyber threats

Raghuram-RajanThe Reserve Bank is planning to set up an information technology wing to deal with cyber threats.

“We have to worry about cyber security issues. Keeping cyber supervision in mind, the board suggested that we focus on an IT subsidiary to help us develop policies as well as capabilities in the areas of IT,” RBI Governor Raghuram Rajan said.

“The changes are so rapid that one of the directors said today we have banking which uses IT but tomorrow we will be an IT company that does banking,” he added.

The proposed IT entity’s precise structure has to be worked out. The issues concerning systems such as cyber security, supervision and new payment banks which are going to be IT-intensive, etc. Would be focused.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.