RBI, SEBI bolster Cyber Shield for Financial Sector Players
The Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) are strengthening cybersecurity measures across India's financial sector.
Key highlights from the report include:
- Governance and Strategy Focus: Cyber risk management is shifting beyond traditional IT departments, making cybersecurity a fundamental governance and business priority for regulated financial entities.
- Proactive Preparedness: Both regulators are expanding training programs and simulation exercises to test preparedness, detect vulnerabilities early, and mitigate risks associated with emerging technologies before disruptions occur.
- Top Sector Risks: At a Financial Institution Benchmarking and Calibration (Fibac) event, RBI Governor Sanjay Malhotra identified cyber threats along with geopolitical uncertainties and trade tariffs as the main risks facing India's banking sector and broader economy.
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