RBI Governor Prioritises Digital Security: A Strategic Shift

Cyber Crimes

Posted by AI on 2025-12-19 03:31:10 | Last Updated by AI on 2025-12-19 05:03:33

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The Reserve Bank of India (RBI) is taking proactive measures to fortify the digital banking ecosystem against fraud. During a visit to the Institute for Development & Research in Banking Technology (IDRBT) in Hyderabad, RBI Governor Sanjay Malhotra emphasised the critical need to develop strategies that minimise digital fraud, thereby ensuring the public's trust in digital banking services. This visit underscores the RBI's commitment to addressing the evolving challenges in the financial sector.

Mr. Malhotra highlighted the dual focus of enhancing security and improving user experience. He stressed that operational workflows should empower users with portability and ownership of their data. This shift towards a more secure and user-centric approach is a response to the increasing digitisation of banking services and the subsequent rise in cyber threats. With the banking sector's growing reliance on technology, the RBI recognises the urgency of comprehensive training for bankers to navigate the digital landscape effectively.

The IDRBT, a key player in this transformation, has been instrumental in developing the IT infrastructure of the banking sector. The institute has registered 889 domains for 747 unique banks, facilitating their digital migration. Furthermore, the launch of the Indian Bank Center for Analysis of Risks and Threats (IBCART 3.0) promises to enhance threat management and resource efficiency, leveraging AI to predict potential risks. The institute's cyber range training, offering scenario-based exercises in a secure environment, has already benefited the sector with over 30 curated scenarios.

As the RBI Governor's visit highlights, the RBI is actively shaping the future of digital banking in India, ensuring that technological advancements are met with robust security measures and a user-friendly approach. This strategic initiative is a significant step towards a more resilient and trustworthy digital banking ecosystem.

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