CURRENT AFFAIRS

Detailed explanation-1: -The current composition of the Standing Committee is as follows: Smt. Meena Hemchandra, Executive Director, RBI, Chairperson.

Detailed explanation-2: -Reserve Bank of India (RBI) on 28 February 2017 constituted an inter-disciplinary standing committee on cyber security. The committee will review the threats inherent in the existing and emerging technology.

Detailed explanation-3: -To consider these and related issues, RBI announced the creation of a Working Group on Information Security, Electronic Banking, Technology Risk Management and Tackling Cyber Fraud in April, 2010. The Group was set up under the Chairmanship of the Executive Director Shri. G. Gopalakrishna.

Detailed explanation-4: -The RBI cyber security framework addresses three core areas: (1) Establish Cyber Security Baseline and Resilience (2) Operate Cyber Security Operations Centre (C-SOC) (3) Cyber Security Incident Reporting (CSIR).

Detailed explanation-5: -Shri Shaktikanta Das, IAS Retd., former Secretary, Department of Revenue and Department of Economic Affairs, Ministry of Finance, Government of India assumed charge as the 25th Governor of the Reserve Bank of India effective December 12, 2018.