RBI Co-Operative Bank IS Audit

RBI enhanced the Cyber Security Framework for Urban Cooperative Banks (UCBs), revising its initial release of October 19, 2018. Being a CERT-In Empaneled Security Auditor, QRC helps our clients to understand, manage and comply with periodic releasing RBI Guidelines. The Periodic reviews of the security of the bank’s infrastructure and assets are a must to find out vulnerabilities and security loopholes. Hence, we need to take the appropriate actions to be taken by the Co-Operative Banks to fill the security loopholes and get rid of vulnerabilities.

The following is a quick summary of some of the key points and requirements from the new Cyber Security Framework for Urban Cooperative Banks (UCBs).

Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)

• Board approved Cyber Security Policy

• Cyber Security Policy to be distinct from the IT policy/IS Policy of the UCB

• IT Architecture/Framework should be security compliant

• Cyber Crisis Management Plan

• Organizational Arrangements

• Cyber Security awareness among Top Management/Board/other concerned parties

• Ensuring protection of customer information

• Supervisory reporting framework

Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)

Level I Requirements

• Baseline Cyber Security and Resilience Requirement

• Vendor/Outsourcing Risk Management

Level II Requirements

• Network Management and Security

• Secure Configuration

• Application Security Life Cycle (ASLC)

• Change Management

• Periodic Testing

• User Access Control / Management

• Authentication Framework for Customers

• Anti-Phishing

• Data Leak Prevention Strategy

• Audit Logs

• Incident Response and Management

Level III Requirements

• Network Management and Security

• Secure Configuration

• Application Security Life Cycle (ASLC)

• User Access Control

• Advanced Real-time Threat Defence and Management

• Maintenance, Monitoring, and Analysis of Audit Logs

• Incident Response and Management

• User / Employee/ Management Awareness

• Risk based transaction monitoring

Level IV Requirements

• Arrangement for continuous surveillance – Setting up of Cyber Security Operation Centre (C-SOC)

• Participation in Cyber Drills

• Incident Response and Management

• Forensics and Metrics

• IT Strategy and Policy

• IT and IS Governance Framework

• IT Strategy Committee

• IT Steering Committee

• Chief Information Security Officer (CISO)

• Information Security Committee

• Audit Committee of Board (ACB)

We help our clients to get an in-depth analysis of the RBI Cyber Security Framework for Cooperative Banks and meet the RBI Cyber Security Guidelines.