RBI's new cybersecurity framework giving a tough time to all banks

While top banks can afford to purchase high-end deception technologies and build strong security operations centres but the smaller rural or cooperative banks may stand to lose

Nearly two and a half years after the Reserve Bank of India (RBI) published a cybersecurity framework for all commercial banks, banks are having a tough time finding the people needed to give them the necessary protection. While top banks outsource a significant cyber-security exercises and operations to consultancies and security firms, many smaller banks stand to lose out because they lack the same deep pockets. 

For the past three months, Business Standard had requested several meetings with Chief Information Security Officers (CISOs) at the top public and private sector banks, seeking information on the status of implem­entation of the