2. Avoid using unsupported systems; implement a timely tech refresh plan for continued security compliance.
Lumiverse Solutions – L2 Bank Compliance Guideline
The L2 Bank Compliance Guideline by Lumiverse Solutions is a comprehensive and structured framework designed specifically for Level 2 (L2) banks. It helps streamline and strengthen IT governance, risk management, and control practices in line with the RBI Master Directions on Information Technology. This guideline addresses key compliance areas such as cybersecurity readiness, data protection, third-party risk, business continuity, and audit assurance. By adopting this tailored approach, L2 banks can proactively mitigate operational and cyber risks, ensure regulatory alignment, and build a resilient, future-ready digital infrastructure.
Strengthening IT Compliance for L2 Banks with Lumiverse Solutions' RBI-Aligned Framework
1
IT Governance
1. Develop an IT Governance Framework aligned with risk appetite.
2. Establish an IT Strategy Committee (ITSC) with at least 3 directors (Chair: Independent Director).
3. ITSC to meet quarterly.
4. Assign IT Head and set clear roles for Board/Senior Management.
3
Business Continuity & Disaster Recovery
1. Maintain tested DR site.
2. Conduct DR drills semi-annually.
3. Target RPO/RTO as per system criticality.
4. Periodic backup restoration validation.
2
IT Infrastructure & Services Management
1. Maintain CMDB (Configuration Management Database).
3. Establish DR sites with geographic separation.
4. Monitor AMC/EOS for infra components.
4
Cybersecurity & Compliance
1. Define Cybersecurity and IS policies.
2. Designate a CISO with an independent reporting line.
3. Conduct Vulnerability Assessment (VA) semi-annually.
4. Perform Penetration Testing (PT) annually for DMZ or customer-facing systems.
5. Information Systems (IS) Audit
1. Conduct risk-based IS audits at least once a year.
2. Report audit findings to ACB (Audit Committee of the Board).
3. Consider automated audit controls for core apps.
Roles and Responsibilities
1. Appoint CISO (GM rank or above).
2. Form Information Security Committee (ISC).
3. Include IT, Risk, Business, and Audit functions in ISC.
7. Mandatory Controls
1. Role-based access control
2. Multi-factor authentication (MFA) for privileged users
3. Encrypted data transmission
4. Audit trails in all core systems
Business Continuity & Disaster Recovery
1. Maintain tested DR site.
2. Conduct DR drills semi-annually.
3. Target RPO/RTO as per system criticality.
4. Periodic backup restoration validation.
9. Optional/Recommended Controls
1. Security Operations Center (SOC) setup
2. Endpoint Detection and Response (EDR)
3. Quarterly awareness sessions for staff
10. Reporting & Review Frequency
Item | Frequency |
ITSC Meeting | Quarterly |
DR Drill | Semi-annual |
VA | Semi-annual |
PT | Annual |
CISO Review to Board | Quarterly |
IS Audit | Annual |
