RBI Tightens Cyber Checks on Banks After Recent Hacks
The Reserve Bank of India is asking banks to look more closely at cyber risks, after a run of hacks at major lenders. Recent cases include data leaks and unauthorised transfers from customers' accounts. The RBI is pushing banks to find and fix weak points in their systems, including risks linked to AI.
Context
The RBI is the central bank that regulates India's banks and sets banking rules. Banks now hold large amounts of digital customer data and run online payments, so breaches can put ordinary people's savings and accounts at risk.
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