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Get aligned with RBI (The Reserve Bank of India) with Safetica

Aug 14, 2023
The Reserve Bank of India (RBI) has created a dedicated security framework tailored for the Indian financial sector, ensuring the safety of Indian banks from potential cyber-attacks.
 

The RBI framework offers guidance on various aspects, including risk management, creation of policies, reporting mechanism, and promoting security awareness. Implement Safetica to be compliant with RBI.

 

What do you need to know about RBI Cybersecurity Framework

  • The Reserve Bank of India (RBI) is responsible for the supervision of the Indian financial and non-banking finance institutions.
  • Financial institutions are required to proactively detect security threats and prevent them from happening.
  • RBI released The Cyber Security Framework on June 2, 2016
  • RBI compliance plays a vital role in maintaining economic stability, promoting growth, and advising on compliance and risk management programs.

 

What banks should do to be compliant with RBI
  • Proactively safeguard their security.
  • Create and enforce policies to mitigate risks.
  • Set up a Security Operations Centre (SOC).
  • Implement 24/7 real-time surveillance.
  • Create a cyber crisis management plan.
  • Perform audits to check how well banks are prepared for risks.
  • Educate stakeholders and employees about cybersecurity.
  • Create reports on data security incidents.
  • Report incidents to RBI.

 

Safetica can help banks with RBI Compliance 

 

 

RBI Guidelines

How Safetica Can Help

Protection of Customer Data

 According to the RBI Framework, banks are responsible for protecting customer information, whether it's with the customer or a third-party vendor.
  • Safetica combines data classification, data loss prevention (DLP) and insider threat protection to establish a highly secure environment that allows banks to operate efficiently.
  • Safetica helps banks set clear policies to protect sensitive data from accidental or intentional activities.

Data Loss Prevention Strategy

 The RBI requires banks to have a data loss / data leak prevention strategy to protect sensitive business and customer information.
  • Safetica allows banks to perform different activities like handling security policies, configuring automated data classification, managing your organizational workspace, and investigating data security incidents into a central dashboard.

Secure Use of Removable Media

 The RBI requires banks to have a policy for securely using removable media on different devices, including limiting the types of media and information that can be transferred or copied. Secure erasure of data after use is also mandatory.
  • Safetica enables monitoring and management of removable devices, including USB storage devices, printers, and ports like WiFi and Bluetooth. It also allows you to restrict the use of unauthorized portable peripherals and media.

Real-time Threat Defense and Management

 The RBI advocates for banks to consider whitelisting of internet websites/ systems.
  • Safetica allows you to create custom lists of web addresses. Access to domains and URLs on these lists will be blocked.
  • Safetica quickly responds to incidents and potential risks by automatically detecting and evaluating suspicious or abnormal behavior.

Prevent Use of Unauthorized Software

 Banks should maintain an updated, and preferably centralized, inventory of authorized/ unauthorized software.
  • Through the Shadow IT feature, banks can conveniently review the software catalog of the company and keep track of any undesirable applications. Our intelligent analysis and automated risk detection make this task effortless.

 

Why Safetica

 

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Easiest to Implement and Integrate

Safetica enables easy and swift deployment, seamlessly integrating into existing IT infrastructure to minimize compatibility issues. Enjoy enhanced data protection and productivity without significant delays or disruptions.

 

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Persistent Data Protection

Safetica's persistent data classifications resist attempts to bypass DLP, even when files are archived, encrypted, or have a different extension. This protection extends to new documents and files leaving the protected endpoint.

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Flexible Deployment Options

Safetica offers flexible deployment options to businesses, with on-premise installation for maximum control and security, or cloud-based hosting for greater flexibility and scalability.

 

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