A unified and harmonized supervisory approach has been adopted for commercial banks, nonbanking financial companies (NBFCs) and urban cooperative banks (UCBs), with greater emphasis on identifying and addressing the root causes of identified vulnerabilities. 13. To enhance the effectiveness of supervisory frameworks, the Reserve Bank has employed various analytical tools.
These include an Early Warning System, Stress Testing models, Vulnerability Assessments, Cyber Key Risk Indicators, Phishing and Cyber reconnaissance exercises, targeted evaluations of compliance with KYC/AML norms and Micro-Data Analytics, among others.