RBI imposes Rs 25 lakh penalty on Punjab And Sind Bank

a penalty Of Rs 25 lakh on Punjab and Sind Bank for Non-compliance with certain provisions of Directions on ‘Cyber Security Framework in Banks’

•The state-owned bank had reported a few cyber Incidents to the RBI on May 16 and 20, 2020.

•Examination of the incident reports and the report Of the forensic analysis of the said incidents, Revealed, non-compliance with aforesaid directions.

The RBIl issued a show-cause notice to the bank.

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