How To Audit IT Framework For NBFC As Per RBI Compliance?

How To Audit IT Framework For NBFC As Per RBI Compliance?
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Table Of Content

  • Introduction
  • Benefits Of Audit IT Framework For NBFC
  • Process To Audit IT Framework For NBFC
    1. Initial Assessment
    2. Gathering of Evidence
    3. Writing Documentation
    4. Report Presentation
  • Conclusion


The Reserve Bank of India (RBI) has issued Master Directions and Guidelines for Non-Banking Financial Corporations (NBFCs) to help them identify and address risks and weaknesses in their operations. The desire and need for minimizing cyber dangers arising from growing technology utilized by major organizations is the driving force behind these Master direction guidelines.

The NBFC must adhere to the license's rules and limitations (such as customer protection, data security, audit function, grievance redressal, data security, audit control, corporate governance, and risk management framework).

CyberNX will help you understand, comply with, and manage the RBI Circulars and Guidelines that are produced on a regular basis. While proceeding with the NBFC sector, RBI revealed fresh updated information relating to Information Technology Framework, which includes standards and clauses relevant to Cyber Security and Information, Business Continuity Planning, IT Audits, and many more.

Benefits Of Audit IT Framework For NBFC

  • It instills trust in the systems' suitability and ability to function safely as intended.
  • An unbiased third-party view is sought.
  • Direct the organization's operations so that it can provide better services.
  • Assure user businesses who outsource any IT systems that perform key activities that their service providers have procedures and controls in place to offer consistent and reliable services.
  • By receiving helpful advice and feedback from CyberNX's expert staff, the organization's security can be improved.

Process To Audit IT Framework For NBFC

  1. Initial Assessment

    • Information is gathered about the organization. How the organization works is reviewed.
    • The policies, procedures and other documents of the organization are reviewed.
  2. Gathering of Evidence

    • Evidence of All Audit Points Are Gathered
    • The gaps are identified.
    • Areas of improvements shall be suggested wherever possible.
  3. Writing Documentation

    • The report shall be made stating the observations corresponding to the guidelines.
    • The Compliance, Non-Compliance and Need-For-Improvement points are clearly stated.
  4. Report Presentation

    • When the above steps are done, presentation of the report shall be done.
    • The final signed report is submitted to the client which can be shared to the regulatory body on request.


CyberNX can help the NBFCs to conduct a formal gap analysis between their status and control requirements stipulations as laid out in the Master Directions and define a time-bound action to address the gap and comply with the guidelines.

If you are looking to audit your IT framework for NBFCs as per RBI compliance, contact the experts at CyberNX to help you ensure the security and compliance of your IT infrastructure.

Author - CNX Admin

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