By Munjal Kamdar
Building a coordinated effort to create a cyber-safe India is the need of the hour. No sector, other than Defense, feels this need more acutely than the financial services industry. As a step forward, SEBI released the Cyber Security and Cyber Resilience Framework (CSCRF) on 20th August 2024, mandating cyber controls for all 19 types of regulated entities (REs) under its purview.
Let us review some of the key measures mandated by SEBI’s CSCRF that will advance India toward a more secure cyberspace:
- Establishing regulations: Implementing and enforcing comprehensive cybersecurity regulations ensures organizations meet minimum security standards across sectors.
- Promoting best practices: Regulators develop and implement a comprehensive cybersecurity strategy that outlines the vision, goals, and actions needed to secure the regulated entities’ cyber infrastructure.
- Encouraging transparent reporting: Mandating transparent audits as well as reporting of cyber incidents fosters accountability and helps regulators understand trends to shape better policies.
- Fostering collaboration: Encouraging cooperation among government, the private sector, and law…
