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IICA Qualified Independent Director
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Limited Customer Liability on Bank Frauds.. Your Comments solicited by RBI
In a long awaited but highly welcome move, RBI has released a “Draft Circular” for public comments on “Limited Liability” for customers in case of frauds in Internet Banking and Card transactions. Suggestions/comments, if any, on the Draft Circular may be … Continue reading
Posted in Cyber Law
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Cyber Security Framework and Directors of Banks- An Action Plan..for Now..
The Cyber Security Framework (CSF-2016) proposed by RBI to be implemented by Banks has posed a stiff challenge to the community of Bank Directors. After the lukewarm response to its previous guidelines including the E Banking Security Guidelines (GGWG Recommendations) … Continue reading
Posted in Bank, ITA 2008, RBI
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At Last, the Finance Ministry seems to have recognized Cyber Threats in Banks
It has been pointed out ad nauseam on this forum that Cyber threats in Banks are looming large to be considered as a “National Security Issue”. However, the commercial considerations in Banks have pushed technology solutions ahead of security considerations … Continue reading
Posted in Cyber Law
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The Five Commandments on Cyber Security For Banks… R.Gandhi, Executive Director
After Mr K C Chakrabarthy, the former Executive Director of RBI, it appears that the mantle of Cyber Security has passed on to Mr R. Gandhi, Deputy Governor, who appears to be pushing the Commercial Bankers for better Cyber Security. … Continue reading
Posted in Cyber Law
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RBI’s FinTech Working Group needs to secure Consumer interests also
It is good to see that RBI at last appear to be walking its talk on hardening the security in Banks. After the last circular on “Cyber Security Framework” (June 2, 2016), which while reiterating the earlier circulars issued after the … Continue reading
Posted in Cyber Law
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“There will be no prosperity without Law and Order..” Donald Trump.. A message also for Digital India
Donald Trump the Republican nominee for US president this year says “There will be no prosperity without Law and Order”. This was said in the context of the American physical space where Crime and Terrorism has created a situation where … Continue reading