If your organization is considered a bank or regulated entity in India, you might already be familiar with the Reserve Bank of India’s IT and security requirements. These are outlined in a variety of regulatory frameworks, ranging from the famous Cyber Security Framework in Banks to specific guidelines on IT outsourcing and digital payment security controls.
You can download the template here and begin your gap assessment today:
I hope you find it useful, and I encourage feedback so that I can continue improving it in future updates.
Regulations Covered in This Template
This template consolidates four key RBI guidelines:
- Cyber Security Framework in Banks
- Master Direction on IT Governance, Risk, Controls, and Assurance Practices
- Master Direction on Outsourcing of IT Services
- Master Direction on Digital Payment Security Controls
Each of these regulatory frameworks is vital for ensuring that banks and their partners maintain strong security controls, manage risk effectively, and protect customer data.
About the Template
The template is split into four primary sections:
- Contents: An overview of the regulations included in the template, with easy navigation to each section.
- Requirements: This is the heart of the template. It lists all the IT and security requirements from the RBI’s regulatory documents. For each requirement, you can assess your compliance status.
- Dashboard: A visual representation of your compliance status, showing which areas are fully compliant, partially compliant, non-compliant, or not applicable.
- Changelog: Any updates or changes to the template will be recorded here for version control.
How to Use the Template
- Go to the “Requirements” Tab: This is where you document the gaps.
- Assess Compliance: For each requirement, you have four options:
- Fully Compliant: Select this when your organization fully meets the specified requirement.
- Partially Compliant: Choose this if your organization meets some aspects of the requirement but falls short in others.
- Not Compliant: Select this when your organization does not meet the requirement.
- Not Applicable: Choose this when the requirement doesn’t apply to your organization (e.g., outsourcing requirements if you don’t outsource IT services).
- Review the Dashboard: Once you’ve completed your assessments, head to the “Dashboard” tab. This tab provides an overall view of your compliance status, broken down by regulation and specific areas.
The dashboard provides a quick visual overview of where your organization stands and where improvements are needed.
Version History and Updates
- v1.0 (01-Jun-2024): Initial version
Disclaimer
Please note that this template was created independently and has not been officially endorsed by the Reserve Bank of India. I’ve taken care to ensure the template’s accuracy, but you should verify the information for your specific needs. Feel free to modify the template to better suit your organization’s requirements, but if you share it, please credit the original source.
Credits
Cover image: Photo by Pranav Choubey: https://www.pexels.com/photo/a-stack-of-assorted-indian-rupees-6901511/
