The risks posed by cyber threats, as well as the actions to manage or reduce these risks, must be highlighted in a cyber-security strategy.

Banks must implement a cyber-security policy outlining a plan for combating cyber threats in light of the business's complexity and acceptable levels of risk.

Establish a cyber security testing/assessment program to identify vulnerabilities/ security flaws in Bank’s infrastructure/applications on a periodic basis.

Total confidentiality, privacy, and security of customer information (“Know Your Data)”.

Data storage in centers located & maintained in India, that is, the RBI has issued directions that require all banks and payment system providers to localize payment transaction data in India (“Data Localization”).

Outsourcing of activities by Banking companies: Customer information is to be protected, by following appropriate practices to mitigate the risk involved with outsourcing / third parties (“Third-party data sharing/Privacy Intelligence”).

Handing Data Subject Requests (referred to as “DSR’s” - correction, updation, deletion, etc.,).

Data Discovery (Personally Identifiable Information /Sensitive Personal Information)

Localization / Adaptation of Cloud-Native.

Data Subject Rights fulfillment.

Outsourcing–Third-Party Data Sharing.

Retention / Data Deletion / Data Purging.