Mumbai Investment：Indian Reserve Bank (India Reserve Bank) and Insurance Supervision and Development Bureau (IRDAI)

Indian Reserve Bank (RBI), Indian Central Banking Institutions, Indian Insurance Regulatory and Development Bureau (IRDAI), and the Ministry of Electronics and Information Technology (Meity) consist of three major financial industry regulatory agencies.Facilities.Its instructions include outsourcing and risk management guidelines, as well as the requirements of privacy rules that obey the management of sensitive data.

Outsourcing and risk management guidelines include:

"Bank Financial Services Outsourcing Risk Management and Behavior Guidelines" (RBI) solve the risks that regulatory banks may face when outsourcing financial services, and help ensure that outsourcing will not hinder the RBI regulatory role.RBI does not need to approve banks in advance to seek outsourcing financial services: However, core bank functions (such as internal audit and compliance functions) should not be outsourced.

RBI) (Information Security, Electronic Banking, Technical Risk Management, and Network Fraud Guide. Financial institutions must report outsourcing arrangements for the scale and nature of the activity to share extensive data sharing with service providers outside India. If the operation data is stored outside India, it is stored outside IndiaOr treatment, this guide is especially applicable.

Outsourcing (IRDAI) of the Indian Insurance Corporation Regulations.Each year, insurance institutions need to report to the tax bureau's core activities within 45 days after the end of the fiscal year.Page 7 in the Microsoft list introduces what is "core activity support function".

Financial companies using cloud services must also comply with privacy rules, including information technology (reasonable security practices and procedures, sensitive personal data or information) rules, 2011 (Meity).These rules aim to strengthen India's data protection laws and manage sensitive personal data protection and processing.

In order to help guide Indian financial institutions to consider outsourcing business functions to the cloud, Microsoft has released a list of compliance of Indian financial institutions.By viewing and completing the list, financial institutions can adopt Microsoft business cloud services and are convinced that they meet the applicable regulatory requirements.Mumbai Investment

When Indian financial institutions outsourcing business activities into the clouds, they must follow Indian reserve banks to manage risks and solve problems caused by information technology.They must also abide by the data security and privacy requirements formulated by the Ministry of Electronics and Information (USA).In addition, insurance organizations must follow the outsourcing standards released by the Indian Insurance Supervision and Development Bureau, (IRDAI).

The Microsoft list can help India Financial Corporation conduct due diligence and evaluation of Microsoft commercial cloud services, including:

Overview of the environmental regulations environment.

A list, which lists the problems to be solved, and Microsoft Azure, Microsoft Dynamics 365 and Microsoft Office 365 services are mapped with these regulatory obligations.This list can be used as a tool for measuring whether to conform to the framework of the laws and regulations, and provide internal structures for recording compliance to help customers risk assessment of Microsoft business cloud services by themselves.

Dynamics 365

Microsoft 365

India's compliance list: Financial companies can obtain help to evaluate the risk assessment of Microsoft business cloud services.

Azure's financial examples: Overview of cases, tutorials and other resources to build Azure solutions suitable for financial services.

Does the contract signed with the cloud service provider must include all compulsory clausesBangalore Wealth Management?

yes.The above standards stipulate that financial institutions must be included in some specific points for their cloud service contracts.

The list (part 2 of page 70) maps these contents according to each section in the Microsoft contract document.

Microsoft Purview compliance manager is a feature in the Microsoft Purview compliance portal that can help you understand the compliance status of the organization and take measures to help reduce risks.The compliance manager provides a high -end template for evaluation of this regulation.Find the template on the "Evaluation Template" page of the compliance manager.Learn how to establish an evaluation in the compliance manager.

Microsoft and Meiti

Microsoft business cloud services and financial services

Financial service compliance in Azure

Azure Financial Services Cloud Risk Evaluation Tool

Microsoft Trust Trust Center's compliance

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