Money & Banking
RBI asks banks to install cyber security policy
In view of recent increase in online attacks on financial institutions' information systems, India's central bank on Thursday advised commercial banks to immediately put in place a cyber security policy in order to counter threats arising from the internet.
 
"Banks should immediately put in place a cyber-security policy elucidating the strategy containing an appropriate approach to combat cyber threats given the level of complexity of business and acceptable levels of risk," the Reserve Bank of India said in a notification to all commercial banks.
 
"It is essential to enhance the resilience of the banking system by improving the current defences in addressing cyber risks," it said.
 
The central bank asked all scheduled commercial banks to specify potential risks as "low, moderate, high and very high" and said they must report all "unusual cyber-security incidents" to the RBI.
 
It also said the new cyber security policy should be separate from the bank's broader information technology policy.
 
"The number, frequency and impact of cyber incidents/attacks have increased manifold in the recent past, more so in the case of financial sector including banks, underlining the urgent need to put in place a robust cyber security/resilience framework at banks and to ensure adequate cyber-security preparedness among banks on a continuous basis," the notification said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

COMMENTS

Shirish Sadanand Shanbhag

6 months ago

In the era where cyber security norms are greatly available, Govt. of India & RBI should form proper norms for cyber security of Bank Business in our country.

Monsoon to hit Kerala in 3-4 days, good rainfall across country: IMD
While it is already raining in most parts of Kerala, the Indian Meteorological Department (IMD) has forecast that the monsoon will hit the southern state in the next four to five days.
 
"Conditions are becoming favourable for onset of southwest monsoon over Kerala during next 4-5 days," the IMD said on Thursday.
 
It reiterated its earlier forecast of overall above-normal monsoon between June to September this year.
 
Kerala is already receiving good, though patchy, pre-monsoon rainfall, which was over 100 mm in Kannur and Kozhikode districts and about 50 mm in Kochi and other south Indian cities like Bangalore.
 
"The monsoon has already struck Kerala for the common people, but for two criteria, including Outgoing Longwave Radiation (OLR) and Westerly Winds, we are yet to be satisfied to declare proper monsoon there," private weather forecaster Skymet's Director Mahesh Palawat told IANS.
 
The weather analysts had predicted monsoon would reach Mumbai and parts of West Bengal between June 12 to 14. 
 
"Monsoon would strike Delhi by June-end or July 1," Palawat said. He added that parts of Bihar would start receiving monsoon rain between June 15 to 20.
 
The northeastern states, for which the IMD had expected "below normal" rainfall, would, according to the weather analysts, continue receiving pre-monsoon showers till the normal monsoon arrives between June 12 and 14. 
 
The IMD forecast has confirmed overall good rainfall this year after two successive drought.
 
"Quantitatively, monsoon season rainfall for the country as a whole is likely to be 106 percent of the long period average (LPA)," the IMD said.
 
The IMD said that the northwest region of the country will receive above normal rainfall, and central India and the southern peninsula region will receive excess rainfall. 
 
"No one has predicted deficient rainfall this year. We can hope for good rains this year," an IMD official said.
 
For the past two years, over 2,55,000 villages across 255 districts and 10 states are suffering from drought that has affected over 33 crore people.
 
This year, however, pattern changes were evident with drop in 'El Nino', a climatic phenomenon which is the warm phase of the cycle of warm and cold temperatures in the Pacific Ocean that also impacts the monsoon.
 
A high El Nino has a negative effect in terms of the weather, agriculture and economics. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Mathura SP among 20 killed in clash
The toll in the Mathura violence rose to 20 on Friday as Superintendent of Police Mukul Dwivedi and others injured in Thursday's clash between police and encroachers during an anti-encroachment drive, succumbed to their injuries, officials said.
 
While 250 people have been detained for their involvement in the incident, the city continues to be tense even as heavy police reinforcement has been deployed in the violence hit region.
 
Dwivedi, a 1995 batch officer had joined as SP (City) Mathura seven months ago and is being remembered as one of the finest in the district police force. 
 
He was leading the operations following the orders of the court to clear the park of encroachment when police team was greeted with unprovoked and indiscriminate firing by the encroachers, believed to be part of sect called 'Satyagrahis'.
 
While Chief Minister Akhilesh Yadav has ordered a probe into the incident, sources say the slain SP many times in the past had shared his frustration about the situation in Jawaharbagh, with friends and family. 
 
Close aides said that Dwivedi had spoken to them on how his superiors in the district were dissuading him against acting against the people behind the encroachment, despite a specific court order to do so.
 
He also allegedly told some officials that he was not being provided with adequate police force to clear the encroachment at the sprawling park. 
 
The incident has come as a setback to the Samajwadi Party (SP) government in the state which braces for elections early next year and is already faced with charges of lawlessness in the state.
 
Bharatiya Janata Party (BJP) state spokesman Vijay Bahadur Pathak told IANS that while the incident was very unfortunate it did not come as a shock as "in the past too, policemen have been targetted even as chief minister and his government have been in a state of denial".
 
"It is very sad that on one hand the people of the state are victims of lawlessness and even the police in the last four years has been targetted" he said while seeking action against the Mathura DM and SSP for intelligence failure.
 
The Bahujan Samaj Party (BSP) and Congress leaders have also slammed the state government for letting the situation spin out of control to such fatal consequences.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)