RBI’s 6-hour reporting rule could help curb cyber threats, frauds
The RBI's recent comprehensive master guidelines mandating non-bank payment system operators to report unusual incidents, including cyberattacks, critical system outages, and settlement delays, within six hours of detection…
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The RBI's recent comprehensive master guidelines mandating non-bank payment system operators to report unusual incidents, including cyberattacks, critical system outages, and settlement delays, within six hours of detection are aimed at strengthening cybersecurity and curbing the growing menace of digital fraud, experts said. The directive requires all non-bank payment system operators (PSOs) to notify the central bank of such incidents in a prescribed format within the stipulated six-hour window, enabling…
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