RBI brings out norms for outsourcing of IT services

Mumbai: The Reserve Bank of India on Monday released master directions for the outsourcing of IT services by banks and non-banks that ensure that regulated entities ring-fence themselves from any reputational risks arising from such arrangements.

The final guidelines that come into effect from October 1, also ensure that any IT outsourcing arrangements do not undermine the responsibilities and obligations banks and non-banks have to customers.