Kathmandu: In a landmark stride toward securing Nepal’s digital economy, a comprehensive Cybersecurity Roadmap for Banks and Financial Institutions (BFIs) has been formally handed over to the newly appointed Governor of Nepal Rastra Bank (NRB), Mr. Biswonath Poudel. This pioneering initiative, led by Chiranjibi Adhikari, Cybersecurity Policy Expert, Senior Vice President of CAN Federation, and CEO of One Cover Pvt. Ltd., lays out a clear vision to bolster cyber resilience in Nepal’s financial ecosystem.

A Unified Vision for National Cyber Defense
The roadmap reflects a unified effort from key national cybersecurity and ICT stakeholders including:

CAN Federation

• Center for Cybersecurity Research and Innovation (CSRI)
• npCERT (Information Security Response Team Nepal)
• Nepal Police Cyber Bureau

Experts such as Dr. Shaligram Parajuli (MoCIT ICT Expert & CSRI President), Mr. Chandra Bilash Bhurtel (CAN Federation), Suman Sharma (npCERT), and others stressed the need for proactive defense, innovation, and nationwide awareness to counter increasing cyber threats.

Roadmap Aligned with National Policy and Law
The roadmap is grounded in:

• Nepal’s National Cybersecurity Policy 2080
• Electronic Transactions Act 2063 (2008)
• Cyber Security Bylaw 2077 (2020)
• NRB Cyber Resilience Guidelines (2023)

12 Key Pillars of the Cybersecurity Roadmap

1. Governance & Leadership

• Mandatory Chief Information Security Officers (CISOs) at NRB and all BFIs
• Creation of Board-Level IT Risk Committees
• Formation of a National Cybersecurity Steering Committee, chaired by NRB Governor

2. FinCERT-Nepal

• Launch of Financial Sector Computer Emergency Response Team (FinCERT-Nepal)
• To coordinate threat response, share intelligence, and manage incidents across BFIs
• Collaboration with npCERT and Nepal Police Cyber Bureau

3. Integration with npCERT

• Real-time threat alerts, coordinated incident response, secure communication channels between NRB, BFIs, and national CERTs

4. R&D & Capacity Building
Partnerships with CSRI Nepal and CAN Federation for:

• Research on emerging threats
• Staff training
• Simulation-based resilience testing

5. Proactive Risk Management

• Quarterly vulnerability assessments
• Mandatory zero-trust architecture, multi-factor authentication, data encryption (AES-256), and DLP tools

6. Digital Payment Security

• Strict standards for mobile/internet banking, wallets, including:
• MFA, DDoS protection, encryption
• Routine platform vulnerability scans

7. Incident Detection & Response

• 24/7 Security Operations Centers (SOCs) at NRB & BFIs
• Deployment of SIEM and EDR tools
• Mandatory Cybersecurity Incident Response Plans (CIRPs)
• 24-hour incident reporting to NRB

8. Third-Party and Cloud Security

• Due diligence, ISO 27001 compliance, and annual audits for all vendors and cloud services

9. Nationwide Awareness & Training

• Annual cybersecurity training for all BFI personnel
• National campaigns with NTA targeting youth and communities

10. Scholarship Fund & Innovation

• BFI-mandated Cybersecurity Scholarship Fund
• Joint R&D with universities in AI security, digital forensics, blockchain, and fraud detection

11. Audits & Monitoring

• Quarterly compliance reports to NRB
• Internal & external audits
• Enforcement through penalties or license suspension for repeated violations

12. Compliance & Enforcement

• Strong alignment with national and international frameworks
• Clear regulatory consequences for systemic negligence

Roadmap Timeline

Phase	Action Items
Immediate	CISO appointments, IT Risk Committees, FinCERT-Nepal launch
Short-Term	Risk assessments, npCERT integration, SIEM/EDR deployment
Mid-Term	SOC establishment, CIRP completion, CSRI collaboration
Long-Term	Scholarship launch, university partnerships, advanced audit implementation
Continuous	Policy reviews, threat updates, sectoral drills

Voices from the Ecosystem
Chiranjibi Adhikari, Roadmap Architect, said: “This is a defining moment for cybersecurity in Nepal’s financial sector. Our roadmap brings together policy, technology, and collaboration to future-proof the nation’s digital economy.”

Dr. Shaligram Parajuli, CSRI President, added: “This framework will empower us to transform cybersecurity R&D into national resilience, especially in high-risk financial sectors.”

A New Era of Financial Cyber Resilience
This roadmap is more than a document—it’s a national commitment to trust, resilience, and innovation in financial infrastructure. With leadership from NRB and collaboration across ICT, government, and academia, Nepal takes a critical leap forward in building a safer digital financial future.

For more details, interviews, or collaboration opportunities, please contact:
📧 [email protected]
🌐 www.can.org.np | www.csri.org.np

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