RBI sets sew IT Governance Standards for banks and NBFCs to enhance data protection
The Reserve Bank of India (RBI) has introduced comprehensive master directions for information technology governance, risk management, and assurance practices in banks and Non-Banking Financial Companies (NBFCs). The Information Technology Governance, Risk, Controls and Assurance Practice Directions ("Directions"), effective from April 1, 2024, will enforce procedures around data migration, remote access to companies' application [...]