The Reserve Bank of India (RBI) issued Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank Payment System Operators (PSOs) on Tuesday, July 30. These guidelines are designed to enhance the safety and security of payment systems managed by PSOs, establishing a comprehensive framework for information security preparedness with a strong emphasis on cyber resilience, as stated in the RBI's notification.
The guidelines stipulate that PSPs must have a clear and effective incident response plan to manage and mitigate the impact of any cyber incidents. They must promptly report any security breaches or incidents to the RBI and relevant authorities.
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