Complying with RBI Guidelines
Securing Outsourced IT Services
Many Indian banks face significant challenges in maintaining security and compliance because of the many outsourced IT services they rely on. This is particularly visible when it comes to verifiably deleting confidential information, as these banks rely heavily on paper contracts and NDAs.
The Reserve Bank of India (RBI) mandates that banks account for outsourced IT services in their security policies and, in some cases, even makes management liable for failing to do so. That’s why executives in Banking, Financial Services, and Insurance (BFSI) are increasingly concerned about how outsourcing critical tasks to third parties can affect their security and compliance posture.
Baseline Cyber Security and Resilience Requirements
- Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)
- Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices
- Cyber Security Framework in Banks
- Baseline Cyber Security and Resilience Requirements
- Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) – A Graded Approach
Data-Centric Security for RBI Compliance
The Reserve Bank of India (RBI) has issued comprehensive guidelines to all Scheduled Commercial Banks (excluding regional rural banks), covering everything from information security to customer awareness programs.
Seclore’s data-centric security platform mitigates data leakage and unauthorized access, ensuring that sensitive digital assets are only accessible by authorized users. It also addresses common loopholes and workarounds for Data Loss Prevention (DLP) solutions, like using password-protected or .zip files. This holistic approach helps banks maintain data governance and regulatory compliance, ensuring that sensitive digital assets remain protected regardless of with whom they are shared.
Know
Protect
Control
Advanced Monitoring and Reporting
Banks handle sensitive information that regularly needs to be shared with internal or external stakeholders. Effectively monitoring who accesses this data, when, and for how long can help banks identify unauthorized access and respond quickly to potential threats.
That’s why it’s important to continuously monitor data access and usage to uphold data security and meet regulatory demands.
Risk Identification
Quickly spot unusual activity
Regulatory Compliance
Demonstrate compliance with RBI guidelines
Informed Decision
Leverage security insights to better protect your organization
Banks need robust tracking capabilities to ensure compliance and avoid penalties for noncompliance. Continuous monitoring also enables faster threat detection, which can help protect organizations and their customers from cybersecurity threats.
Read the RBI Compliance blog post to learn how the Seclore Risk Insights Dashboard enables banks to monitor data in real-time, receive immediate alerts, and proactively manage risks, protecting against potential breaches and strengthening overall data security.
Enhancing RBI Compliance with Seclore’s Data-Centric Security Platform
RBI guidelines require banks to incorporate security for outsourced IT services into their policies, which is why banking executives are understandably concerned about the impact of outsourcing on compliance and security.
Complying with RBI Guidelines
Enhancing RBI Compliance with Seclore’s Data-Centric Security
Enhancing Banking Security and Compliance with RBI Guidelines with Data-Centric Approach
