RBI releases draft on cyber resilience, digital payment security controls

The Reserve Bank of Indis (RBI) on Friday issued draft Master Directions on Cyber Resilience and Digital Payment Security Controls for Payment System Operators (PSOs).

According to the RBI’s release, the central bank has invited feedback from the shareholders on the same.

RBI’s draft directions include a governance mechanism for the identification, assessment, monitoring, and management of cybersecurity risks including information security risks and vulnerabilities, along with specifying baseline security measures for ensuring safe and secure digital payment transactions.

The draft comes after the central bank, during the April monetary policy meeting (MPC), announced that it will issue these guidelines.