Cyber risks in financial sector: RBI calls for AI-aware defence and zero-trust approach, warns of systemic threat from vendor lock-ins

The Reserve Bank of India (RBI) urges financial institutions to bolster cybersecurity defenses amidst rising digital threats. The call to action includes risk-based supervision, zero-trust frameworks, and AI-aware strategies. This is to combat cyberattacks and financial frauds amplified by digital services, cloud infrastructure, and AI-powered scams.