Infosec Opinion

From Busting Frauds to Shaping BFSI Industry’s Tech Roadmap: Nandkumar Sarvade, ReBIT

With an illustrious career of over 34 years spanning across both government and private sector, Nandkumar Sarvade, retired IPS officer and currently CEO, Reserve Bank Information Technology Pvt Ltd (ReBIT) is counted among the doyens of Indian IT and security industry.

Sarvade is a notable expert on banking frauds and economic offences, making him the go to person for any technology and security related matters in the banking and financial services industry (BFSI). As the man at the helm of ReBIT, which was set up as a fully owned subsidiary of RBI for technology management and cyber security for RBI’s systems and the Indian banking sector, he is undoubtedly a force to reckon with.

Having extensive experience both in law enforcement and in handling fraud risks for leading banks and financial institutions like Citigroup and ICICI Bank, Sarvade brings a unique and holistic perspective and contribution to securing the Indian banking sector.

This has helped him in successfully driving ReBIT as a think-tank for innovation, big systems and new ideas with focus on IT strategy for regulation. He has also been instrumental in building its capability to guide the regulated entities on what needs to be done in the IT area of their operations besides spearheading RBI’s own IT related functions and initiatives.

According to Sarvade, the defining phase of his career has been his time as an officer of the Indian Police Service (IPS), where he served for almost 21 years. While in the IPS, he served in the state police departments of Jammu and Kashmir and West Bengal, before moving on deputation to the Central Bureau of Investigation (CBI) in 1996.

At CBI he looked after enforcement of the Prevention of Corruption Act, investigation of bank frauds and economic offences. He was awarded the Prime Minister’s Baton and Revolver for being the Best All-round Probationer of the 1987 batch of the IPS and also the Indian Police Medal for Distinguished Services.

His last assignment in the IPS was Director, Cyber Security and Compliance, NASSCOM, which involved policy formulation on cyber security and privacy, capacity building for law enforcement, advising NASSCOM members on incident response management and organising mass awareness campaigns on cyber security.

In 2008, after taking voluntary retirement from the Indian Police Service, he joined the private sector wherein he worked in the areas of financial crime prevention, fraud risk, investigative services and cyber security at ICICI Bank and Citigroup. He also worked as an independent advisor to EY. Before taking up his current role as CEO of ReBIT, he headed the Data Security Council of India (DSCI) as its CEO.

Sarvade has served on various technical advisory bodies, including the high level group on Electronic Banking Controls Governance and Technology Risk Management Standards set up by RBI, the Cyber Security Project of Government of Maharashtra and Technology Information, Forecasting and Assessment Council (TIFAC) of Government of India. He is a regular speaker at leading training institutes, conferences and industry forums.

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