Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Tech
News18 » Tech
1-min read

RBI to Set up Panel on Strengthening Cyber Security

The Reserve Bank (RBI) has decided to set up an inter-disciplinary panel on cyber security to examine various threats and suggest measures to deal with it.

Press Trust Of India

Updated:February 8, 2017, 5:42 PM IST
facebookTwitterskypewhatsapp
RBI to Set up Panel on Strengthening Cyber Security
The Reserve Bank (RBI) has decided to set up an inter-disciplinary panel on cyber security to examine various threats and suggest measures to deal with it. (Image: Reuters)
Loading...

In a bid to strengthen cyber security system, the Reserve Bank (RBI) has decided to set up an inter-disciplinary panel on cyber security to examine various threats and suggest measures to deal with it.

"While banks have taken steps to strengthen their defences, the diverse and ingenious nature of recent cyber-attacks necessitates an ongoing review of the cyber security landscape and emerging threats. Towards this end, an inter-disciplinary Standing Committee on cyber security is being constituted," RBI said in a statement.

Also read: Over 700 Government Websites Hacked in 4 Years: MHA

The panel will review the threats inherent in the existing or emerging technology on an ongoing basis, it said. Besides, it will also study adoption of various security standards/protocols and also act as interface with stakeholders. The committee will suggest appropriate policy interventions to strengthen cyber security and resilience, it said.

The decision has been taken based on the recommendations of the expert panel on information technology examination and cyber security headed by Meena Hemachandra. RBI has issued guidelines to banks, mandating cyber security preparedness for addressing cyber risks.

In biggest-ever breach of debit card data, as many as 32.14 lakh cards were compromised last year. 641 customers across 19 banks were duped of Rs 1.3 crore using stolen debit card data.

Also read: Elon Musk's Hyperloop Being Considered For Fast Travel in Australia

There are around 75 crore debit cards operational in India, of which 19 crore are indigenously developed by RuPay while the rest are Visa- and Master Card-enabled Of the debit cards affected, about 26.5 lakh are on Visa and MasterCard platforms while 6,00,000 are on RuPay.

The breach reportedly involved some 90 ATMs. Several public and private sector banks recalled or blocked over 32 lakh debit cards to safeguard customers from any financial fraud.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Debashis Sarkar
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results