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ARTICLE · 01 APRIL 2024

RBI Issues Master Directions On Information Technology Governance, Risk, Controls And Assurance Practices

Argus Partners
Argus Partners
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Argus Partners

Argus Partners

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The Reserve Bank of India ("RBI") has issued Master Directions on Information Technology Governance, Risk, Controls and Assurance Practices ("ITGRCA Directions" or the "Directions").

IndiaMedia, Telecoms, IT, Entertainment

Background:

The Reserve Bank of India ("RBI") has issued Master Directions on Information Technology Governance, Risk, Controls and Assurance Practices ("ITGRCA Directions" or the "Directions") (available, here) on November 7, 2023, pursuant to powers granted under Section 35A of the Banking Regulation Act, 1949 read with Section 45L of the Reserve Bank of India Act, 1934 and Section 11 of the Credit Information Companies (Regulation) Act, 2005. The directions came in furtherance of the Statement on Developmental and Regulatory Policies in February 2022 and invitation for comments from all stakeholders on the Draft Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices in October 2022.

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