The RBI issued a draft master direction on cyber resilience and digital payment security controls for payment system operators
The central bank has sought comments on the draft guidelines till June 30
These can be sent through email or post to the Chief General Manager, Department of Payment and Settlement Systems, Central Office, RBI in Mumbai
The draft guidelines cover governance mechanisms for the identification, assessment, monitoring, and management of cybersecurity risks
On April 8, the RBI had announced that it will issue directions on cyber resilience and payment security controls of payment system operators
It is the board of directors of PSOs who will be responsible for ensuring adequate oversight over information security risks, including cyber risk and cyber resilience
However, primary oversight may be delegated to a sub-committee of the board which shall meet at least once every quarter
The policy is to be reviewed annually