Better cyber security reporting

To begin with, an understanding of the types of cyber incidents is necessary

As Indian banks compete to establish differentiated business models based on efficient operations, technology has assumed the pole and pivotal position in their strategies. Ecosystem disruptions like demonetisation, emergence of payment banks, fintech play, micro banks and pseudo and para banking activities of telcos and retail chains have put technology as the sine qua non and God-gifted saviour for banks. But gifts are bundled often with miseries. While technology works as manna for scale and speed, security unpreparedness could play a spoilsport.
 
Financial sector regulators worldwide have introduced frameworks to establish best practices and prevent disruptions to financial stability.