Growing Concerns
RBI calls for strong internal controls at banks to deal with cyber frauds
This story was originally published at 18:42 IST on 26 February 2026
Register to read our real-time news.Informist, Thursday, Feb. 26, 2026
NEW DELHI – The Reserve Bank of India impressed upon banks the importance of robust governance, oversight arrangements, and strong internal controls for the prevention and mitigation of cyber-enabled frauds at its workshop on digital and cyber frauds on Tuesday and Wednesday. The RBI had organised the workshop for the executive directors and heads of fraud risk management of 60 major banks in Mumbai, it said in a press release Thursday.
The central bank also emphasised on the need for well laid out processes and use of advanced technologies by banks to deal with cyber frauds. "The need for close coordination among all stakeholders to effectively address the growing concerns arising from such frauds was also highlighted," it said. "Efforts required for conduct of focussed customer awareness drives was also conveyed to the banks."
The workshop was part of the RBI's ongoing supervisory and developmental engagement with banks to address the incidence and increasing sophistication of cyber-enabled frauds. Senior officers of the RBI, Indian cybercrime coordination centre, ministry of home affairs, Maharashtra cyber police, commercial banks, and urban co-operative banks participated in the workshop.
At the workshop, some banks also shared practices and technological initiatives implemented by them for the prevention and mitigation of cyber-enabled frauds. The RBI reaffirmed its commitment to continued engagement with banks and other stakeholders and taking suitable measures to further strengthen the resilience and integrity of the Indian banking system, it said. End
Reported by Pratiksha
Edited by Ashish Shirke
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2026. All rights reserved.
To read more please subscribe
Share this Story:
