Direction 2023
RBI Master Direction on Outsourcing of Information Technology Services, 2023
Issued by Reserve Bank of India
Effective: 1 Oct 2023
Plain-English summary
RBI NBFC (Managing Risks in Outsourcing) Directions, 2025. In spite of this distinction in administration, however, the technical requirements in both rule books are the same and enforced after the expiration of the deadline of April 9, 2026, on the old contracts. Under this regulatory framework, there is complete board responsibility for the third-party technological risks. In terms of legislation, financial institutions must be able to have ironclad protections through contract audit rights by the RBI, segregation of cloud data, and a clear multi-vendor exit strategy.
Who it applies to
Banking · NBFC / Non-bank Lending
Topics
Cybersecurity & IT Risk Operational Risk & Outsourcing
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