The Reserve Bank of India (RBI) in the second week of February 2017 decided to set up a Standing Committee on Cyber Security.
The primary responsibility of the committee is to examine various threats and suggest measures to deal with it.
The committee will also be mandated to suggest appropriate policy interventions to strengthen cyber security and resilience in a bid to strengthen cyber security system.
Terms of Reference of the Committee
• The committee will the threats inherent in the existing or emerging technology on an ongoing basis.
• It will study the ecosystem related to various security standards and protocols in the digital financial world.
• It will also suggest appropriate policy interventions to strengthen cyber security and resilience.