To address this concern, the Reserve Bank has developed a model-based framework for assessing cyber risk in banks using various risk indicators, risk incidents, VA/PT, etc. Cyber drills are conducted based on hypothetical scenarios. Several Advisories and Alerts are issued on various cyber threats. Measures to build better awareness of cyber risks in supervised entities are continuing.
Let me explain. Macroprudential policy and monetary policy strongly complement each other. For instance, during phases of risk build-up, effective macroprudential policy can remove the burden from monetary policy with respect to financial stability concerns.