Rs 2.66 Crore Penalty Imposed On Bank Of Bahrain & Kuwait By RBI For Cybersecurity Issues
NDTV
A notice was issued to the bank asking it to show cause as to why penalty should not be imposed on it for failure to comply with the directions issued by RBI.
The Reserve Bank today said it has imposed a penalty of Rs 2.66 crore on Bank of Bahrain & Kuwait BSC, India operations for non-compliance with directions on cybersecurity framework.
In a statement, the Reserve Bank of India (RBI) said the bank failed to implement systems to detect unusual and unauthorised, internal or external activities in its database.
It also failed to implement security operations centre for obtaining real-time/ near-real time information and insight into the security posture of the bank, and enable audit logs for database and operating system of servers, among others, as per the statement.
A notice was issued to the bank asking it to show cause as to why penalty should not be imposed on it for failure to comply with the directions issued by RBI.
