The RBI came out with a 5-pillared strategic approach ‘GUARD’ to deal with cybersecurity threats faced by UCBs. GUARD comprises Governance Oversight, Utile Technology Investment, Appropriate Regulation and Supervision, Robust Collaboration and Developing necessary IT and cybersecurity skills set. RBI plans to develop a forum for UCBs to share, discuss best practices, practical issues and challenges, creating a framework for providing awareness/training.

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