RBI and IRDAI
Regulatory Compliance
Readiness You Can Trust
RBI and IRDAI regulatory compliance
Be Ready for Regulatory Audits and Inspections, Not Surprised by Them
Banks, NBFCs, payment system operators, co-operative banks and insurers face detailed IT governance and cyber security expectations from RBI and IRDAI. iSpyCyber delivers clause-by-clause readiness assessments, gap analysis, internal audits and remediation support that prepare you for the formal audit or supervisory inspection, performed by the auditors your regulator requires.
Why regulated entities choose iSpyCyber
Clause-by-clause mapping
Every applicable requirement mapped to your controls, evidence and owners, so nothing is missed.
Built for BFSI
Experience across banking, NBFC, payments and insurance environments and the way regulators review them.
Technically validated
Our offensive security team checks that documented controls actually work, not only that policies exist.
Honest positioning
We prepare you for the statutory or regulator-mandated audit, and are clear about where an empanelled or specified auditor is required.
Remediation that sticks
Practical fixes for policies, processes and technology, with closure verified before your formal audit.
Year-round readiness
Periodic reviews keep you aligned as new circulars and directions are issued, with iefyx supporting continuous exposure visibility.
Coverage
Regulatory Areas We Assess
Coverage follows the applicable RBI Master Directions and IRDAI Information and Cyber Security Guidelines, tailored to your entity type and scale.
IT governance and oversight
Board and IT strategy committee oversight, IT steering, CISO role and reporting lines.
Policies and risk management
Information and cyber security policy, IT risk assessment and risk appetite alignment.
Access and identity controls
User access management, privileged access, MFA and periodic access reviews.
Infrastructure and application security
Secure configuration, patching, VAPT coverage, application security and change management.
Security operations and monitoring
SOC capability, log management, threat intelligence and anomaly detection.
Incident management and reporting
Incident response, cyber crisis management plans and timely reporting to regulators and CERT-In.
Business continuity and DR
BCP, DR drills, recovery objectives and resilience of critical services.
Outsourcing and vendor risk
IT outsourcing controls, cloud usage, vendor due diligence and right-to-audit clauses.
Data protection and customer security
Data classification, encryption, data localisation, customer-facing channel security and privacy.
Methodology
A Structured Six-Phase Readiness Methodology
Mapped to the RBI Master Directions on IT governance, risk, controls and assurance, RBI cyber security frameworks and the IRDAI Information and Cyber Security Guidelines.
- RBI Master Directions
- RBI Cyber Security Framework
- IRDAI Cyber Security Guidelines
- CERT-In directions
- ISO/IEC 27001
- NIST CSF 2.0
4–8
weeks for a typical readiness review
6
structured readiness phases
100%
applicable clauses mapped
01
- Week 1
Applicability and scope
The directions, circulars and guidelines that apply to your entity type mapped and scoped.
Key activities
- Identify applicable RBI or IRDAI requirements
- Agree entities, systems and outsourced services in scope
- Issue document request and interview plan
- Output: Regulatory applicability matrix
02
- Weeks 1–2
Governance review
Board oversight, IT strategy, committees, policies and roles reviewed against regulatory expectations.
Key activities
- Review board and committee oversight
- Assess CISO and IT governance structures
- Review policies against regulatory clauses
- Output: Governance assessment
03
- Weeks 2–4
Control testing
Clause-by-clause testing of technical and operational controls with sampled evidence.
Key activities
- Test access, change, operations and vendor controls
- Review SOC, logging and incident reporting processes
- Verify backup, BCP and DR arrangements
- Output: Clause-level test results
04
- Weeks 3–5
Technical validation
Targeted technical checks confirm that documented controls are effective in practice.
Key activities
- Configuration and hardening reviews
- Validate VAPT coverage and closure
- Spot checks on critical applications and infrastructure
- Output: Technical validation results
05
- Weeks 5–6
Gap report and roadmap
Compliance gaps rated and translated into a remediation roadmap ahead of the formal audit or inspection.
Key activities
- Rate gaps by regulatory and business risk
- Agree management actions and timelines
- Brief board and IT strategy committee
- Output: Compliance gap report
06
- Until audit
Remediation support
Hands-on support and closure verification so you enter the formal audit or inspection prepared.
Key activities
- Support policy and process remediation
- Verify closure evidence
- Prepare evidence packs for the formal audit
- Output: Audit readiness pack
Effort distribution
Where the assessment time goes
Most of the effort goes into testing and validating controls against each applicable clause. Percentages are indicative for a typical single-entity readiness review.
Quality built into every phase
Current requirements
Mapping reflects the latest applicable directions and circulars.
Evidence-backed
Every compliance status is supported by sampled evidence.
Independent review
Reports are quality-reviewed before release.
Closure verified
Remediation is checked before your formal audit.
Engagement options
Choose the Support That Fits Your Audit Cycle
Every option uses the same clause-level mapping, so work carries forward from first review to ongoing compliance.
Gap assessment
A focused review of your controls against applicable RBI or IRDAI requirements. Best for newly regulated entities and new directions.
Pre-audit readiness review
Clause-level testing, technical validation and an evidence pack ahead of the formal audit or inspection. Best for entities facing an upcoming audit cycle.
Continuous compliance support
Periodic internal reviews, circular tracking and remediation support across the year. Best for banks, NBFCs and insurers wanting steady readiness.
Not sure which option you need?
Our specialists will recommend an approach based on your entity type, regulator and audit timeline.
Deliverables
Outputs for Boards, CISOs and Formal Auditors
A clear readiness position for leadership and organised evidence to support the formal audit or inspection.
Board readiness summary
Overall compliance posture, key gaps and regulatory risk for the board and IT strategy committee.
Clause-level compliance matrix
Each applicable requirement with status, evidence reference, gap and owner.
Remediation roadmap
Prioritised actions with owners and target dates ahead of the formal audit.
Audit evidence pack
Organised evidence and documentation that helps your appointed auditors work efficiently.
Supports your compliance and assurance requirements
- RBI Master Directions
- RBI Cyber Security Framework
- RBI outsourcing directions
- IRDAI Cyber Security Guidelines
- CERT-In directions
- DPDP Act 2023
- PCI DSS
- ISO/IEC 27001
- NIST CSF 2.0
- SWIFT CSCF
iSpyCyber provides readiness, gap assessment, internal audit and remediation support against these requirements. Where a regulator requires the audit to be performed by an empanelled or specified auditor, that formal audit is carried out by the auditor appointed for that purpose. iSpyCyber does not issue certifications.
Regulatory compliance readiness for BFSI and beyond
The basics
Which entities does this service cover?
We support RBI-regulated entities such as scheduled commercial banks, co-operative banks, NBFCs and payment system operators, and IRDAI-regulated insurers and intermediaries.
Can iSpyCyber perform our statutory or regulator-mandated audit?
Where a regulation requires the audit to be performed by an empanelled or specifically qualified auditor, our role is readiness, gap assessment, internal audit and remediation support that prepares you for that formal audit. We are transparent about this during scoping.
Which requirements do you assess against?
We map to the applicable RBI Master Directions on IT governance, risk, controls and assurance practices, RBI cyber security frameworks and circulars, and the IRDAI Information and Cyber Security Guidelines, alongside CERT-In directions where relevant.
Working with us
How long does a readiness review take?
Most single-entity readiness reviews take four to eight weeks, depending on entity size, number of critical systems and outsourced services in scope.
Do you help close the gaps?
Yes. We support policy, process and technical remediation, verify closure evidence and prepare an evidence pack for your formal audit or inspection.
How do you keep up with new circulars?
Our team tracks new and amended directions and guidelines, and our continuous compliance option includes periodic updates to your compliance matrix.
Get started
Meet Regulatory Expectations.
With Confidence, Not Panic.
Talk to our specialists about an RBI or IRDAI readiness review scoped to your entity and audit timeline.
- ISO/IEC 27001 and ISO 9001 certified
- 40+ enterprise and government clients
- 15+ countries