The Reserve Bank is constantly creating awareness of such incidents and encouraging banks and non-banks to establish and maintain capabilities to avert such attacks. One must also know how to ring-fence such attacks when they occur and swiftly repair and restore the systems to normalcy. Cyber crisis proofing of systems by undertaking periodic tests as well as drills is essential.
In terms of monetary policy implementation, the European Central Bank launched the expanded asset purchase programme in January, and many of the major central banks have now adopted quantitative easing (QE). On the research front, academic and central bank circles have accumulated studies on unconventional policy that have been conducted vigorously to date.