RBI Co-Operative Bank IS Audit

Call Us

RBI enhanced the Cyber Security Framework for Urban Cooperative Banks (UCBs), revising its initial release of October 19, 2018. Being a CERT-In Empaneled Security Auditor, QRC helps our clients to understand, manage and comply with periodic releasing RBI Guidelines. The Periodic reviews of the security of the bank’s infrastructure and assets are a must to find out vulnerabilities and security loopholes. Hence, we need to take the appropriate actions to be taken by the Co-Operative Banks to fill the security loopholes and get rid of vulnerabilities.

The following is a quick summary of some of the key points and requirements from the new Cyber Security Framework for Urban Cooperative Banks (UCBs).

Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)

Board approved Cyber Security Policy
Cyber Security Policy to be distinct from the IT policy/IS Policy of the UCB
IT Architecture/Framework should be security compliant
Cyber Crisis Management Plan
Organizational Arrangements
Cyber Security awareness among Top Management/Board/other concerned parties
Ensuring protection of customer information
Supervisory reporting framework

Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)

Level I Requirements

Baseline Cyber Security and Resilience Requirement
Vendor/Outsourcing Risk Management

Level II Requirements

Network Management and Security
Secure Configuration
Application Security Life Cycle (ASLC)
Change Management
Periodic Testing
User Access Control / Management
Authentication Framework for Customers
Anti-Phishing
Data Leak Prevention Strategy
Audit Logs
Incident Response and Management

Level III Requirements

Network Management and Security
Secure Configuration
Application Security Life Cycle (ASLC)
User Access Control
Advanced Real-time Threat Defence and Management
Maintenance, Monitoring, and Analysis of Audit Logs
Incident Response and Management
User / Employee/ Management Awareness
Risk based transaction monitoring

Level IV Requirements

Arrangement for continuous surveillance – Setting up of Cyber Security Operation Centre (C-SOC)
Participation in Cyber Drills
Incident Response and Management
Forensics and Metrics
IT Strategy and Policy
IT and IS Governance Framework
IT Strategy Committee
IT Steering Committee
Chief Information Security Officer (CISO)
Information Security Committee
Audit Committee of Board (ACB)

We help our clients to get an in-depth analysis of the RBI Cyber Security Framework for Cooperative Banks and meet the RBI Cyber Security Guidelines.

Audit Approach:

Business Understanding

Evaluating business process and environment to understand the in-scope elements

Audit Scope Finalization

Detailed questionnaire is shared with your teams along with other documentation, and evidence is collected on the architecture, implementation and controls.

Initial/Readiness Assessment

As per the Cyber Security Framework Urban Cooperative directive, we will conduct an initial audit of all the storage locations which comprise of any payment related data.

Risk Assessment

Identifying and analysing the risks in the information security posture.

Data Flow Assessment

Conducting thorough systems analysis to evaluate data flow and possible leakages

Remediation Support

As per the assessment, and the identification of the payment data, QRC will provide remediation support for complying with the RBI directive on the baseline technology requirement and the security controls.

Scans And Testing

Identify critical vulnerabilities in your system with a robust testing approach

Evidence Review

Review of the evidence collected to assess their maturity, in line with the compliance

Final Audit

Post remediation, we conduct a final audit and review your evidence as identified during the audit. On successful closure, we will share the confirmation letter that all assets defined as per the scope meet the prescribed guidelines.

Concise Reporting

Our team documents a comprehensive report detailing all findings covered during the assessment cycle.

frequently asked questions

Is RBI Co-operative Bank IS Audit mandatory for all Co-operative Banks?

Yes, RBI Co-operative Bank IS Audit is mandatory for all Co-operative Banks.