CURRENT AFFAIRS

Detailed explanation-1: -The Reserve Bank of India has today placed on its website the “’Technology Vision for Cyber Security’ for Urban Co-operative Banks (UCBs) - 2020-2023”. The Technology Vision Document aims at enhancing the cyber security posture of the Urban Co-operative banking sector against evolving IT and cyber threat environment.

Detailed explanation-2: -Q. Reserve Bank of India (RBI) has launched ‘Cybersecurity vision framework’ for which banks? Notes: The Reserve Bank of India has recently published the ‘Technology Vision for Cyber Security for Urban Co-operative Banks (UCBs) - 2020-2023’.

Detailed explanation-3: -The Reserve Bank regulates and supervises the banking functions of UCBs under the provisions of Banking regulation Act, 1949(AACS).

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: -What is Cyber Security in Banking? Cyber security refers to the organization of technologies, procedures, and methods designed to prevent networks, devices, programs, and data from attack, damage, malware, viruses, hacking, data thefts or unauthorized access.