Need for Cyber Security Guidelines for NBFC Sector
The NBFC (Non-Banking Finance Company) sector has grown in size and complexity over the years. As the NBFC industry matures and achieves scale, its Information Technology /Information Security (IT/IS) framework, Business continuity planning (BCP), Disaster Recovery (DR) Management, IT audit, etc. must be benchmarked to best practices.
The Reserve Bank of India issued a directive vide circular Master Direction – Information Technology Framework for the NBFC Sector – DNBS.PPD.No.04/66.15.001/2016-17, for the NBFC Sector’ advising all NBFCs to deploy strict cyber security practices.
How it works?
We share audit charter with the auditee highlighting the roles and responsibilities of the audit function as well as the audit objectives.
We provide Auditee a DRL highlighting the required policies and further analysis of the same will be performed in line with the compliance.
Document Requirement List
Quantitative/Qualitative Risk Assessment will be conducted for every business process in scope and risk will be analyzed.
Identification & Analysis
Then the action points as well as risk response methodology will be suggested via GAP Assessment Report and an action plan will be asked from the auditee.
Then we conduct review again post-deployment of the mitigations.
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