The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.45 crore on Bank of Maharashtra for non-compliance with directions on ‘Loans and Advances – Statutory and Other Restrictions’ and the Advisory on ‘Man in the Middle (MiTM) Attacks in ATMs’.

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹50 lakh on Dombivli Nagari Sahakari Bank Limited, Dombivli (Maharashtra) for non-compliance with directions on cyber security frameworks for Urban Cooperative Banks (UCBs). The directions in question included the ‘Basic Cyber Security Framework’ and ‘Comprehensive Cyber Security Framework – A Graded Approach’ for UCBs.

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹10 lakh on The Co-operative Bank of Rajkot Ltd., Rajkot (Gujarat) for contravention of regulatory directions issued by RBI. The directions pertained to reporting of unauthorised transactions by customers, proper use of the bank’s registered name, and monitoring and reporting of frauds in Urban Co-operative Banks (UCBs).

Under India’s G20 Presidency, the Reserve Bank of India (RBI), in collaboration with the Indian Computer Emergency Response Team (CERT-In), Ministry of Electronics and Information Technology, organized an international conference on “Cyber Security Exercise for Banking Sector” in Mumbai on June 5, 2023.

The Reserve Bank of India (RBI) has released draft Master Directions on Cyber Resilience and Digital Payment Security Controls for Payment System Operators (PSOs) and invited comments from stakeholders. The draft directions are aimed at strengthening governance mechanisms and implementing baseline security measures to ensure safe and secure digital payment transactions across the country.