RBI warns banks against cyber attacks

The Reserve Bank on Wednesday directed banks to periodically check their preparedness to prevent any cyber attack.

"Considering that cyber attacks could threaten the confidentiality, integrity and availability of data and the systems, it is imperative for banks to conduct VAPT (vulnerability assessment and penetration testing) periodically to prevent any such attacks," the RBI said.

In the communication to heads of banks, it said that there is a need to ensure that gaps identified from the tests are plugged in a timely manner.

"This should form part of the information security assurance function undertaken by banks," it added.

RBI has been emphasising to banks on the importance of putting appropriate IT and information system (IS) governance structures to enable, interalia, better control and security.

It further said that formulation of consolidated business continuity plans (BCPs) documents by banks covering critical aspects of people, process and technology is important in view of the increased contribution of 24x7 electronic banking channels.