RBI has ordered Indian Banks to develop a stronger focus in terms of capabilities to combat cyber crimes. The increasing role of ICTs in the indian banking industry is highlighted in this statement. It is interesting to note that RBI has recently frame the policy which insurance the need for Indian banks to have a dedicated focus for combating Cyber crimes. Indeed this is evident the way recently RBI has his structured its internal organisation to include a CIO heading at its top management who has a very strong focus on cyber security with decades of experience in the domain. Continue reading “RBI decision highlights the increasing role of ICTs in Banking Sector” →