To streamline this, the Reserve Bank has formed a group comprising experts from banks, IDRBT, IBA and RBI to study the information reporting system of banks and to suggest an approach for automated data flow in a straight-through manner from the source systems of banks to the Reserve Bank. 24. The next priority issue on my list is protection of information and customer confidentiality.
There are growing concerns about the increase in cyber crimes, phishing related frauds, identify frauds and misuse of customer information and the like. Threats from skimming, sniffing, spamming, spoofing, etc., are all increasing.