RBI issues final directions on cybersecurity controls for non-bank PSOs

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RBI issues final directions on cybersecurity controls for non-bank PSOs - Business Standard

Quick Summary:

Additionally, the Board of Directors of the PSO would be responsible for ensuring adequate oversight over information security risks, including cyber risk and resilience.

A real-time or near real-time fraud monitoring solution to identify suspicious transactional behaviour and generate alerts would be required to be set up as per the latest directions.

PSOs would be required to conduct a cyber-risk assessment exercise with respect to the launch of new products or services, or while undertaking changes to existing systems infrastructure on their platform.