Current Context: On 7 October 2026, the National Institute of Securities Markets (NISM) announced two certification courses on Cyber Security and Cyber Resilience in the GIFT IFSC, at Basic and Advanced levels. Developed under an agreement with the International Financial Services Centres Authority (IFSCA), the courses aim to strengthen cybersecurity awareness, risk management and regulatory compliance within the IFSC ecosystem.
Key Points:
- Course Names: The certifications are NISM-IFSCA-02A: Basic and NISM-IFSCA-02B: Advanced, both covering Cyber Security and Cyber Resilience in the GIFT IFSC.
- Basic Course Participants: It targets IFSCA officers and employees of regulated entities operating within the IFSC ecosystem. Interested individuals outside regulated entities can also participate.
- Basic Examination Date: The examination will be available from 18 November 2026.
- Basic Course Objective: It establishes a common minimum knowledge benchmark covering cybersecurity principles, cyber risks, risk management practices and regulatory expectations.
- Advanced Course Participants: It targets Chief Information Security Officers (CISOs), Principal Officers, Designated Officers and Compliance Officers of regulated entities, along with other individuals specified by IFSCA.
- Advanced Examination Date: The examination will be available from 30 December 2026.
- Advanced Course Objective: It builds on existing cybersecurity knowledge and strengthens governance, risk management and understanding of regulatory responsibilities.
- Regulatory Alignment: Both courses align with Clause 8.4 of IFSCA’s Guidelines on Training and Awareness.
- Study Material: Study material for both certifications became available for download from 7 October 2026.
Question:
Q1. NISM developed its cybersecurity certification courses for GIFT IFSC under an agreement with which authority?a) Reserve Bank of India
b) Insurance Regulatory and Development Authority of India
c) International Financial Services Centres Authority
d) Pension Fund Regulatory and Development Authority
Answer: c) International Financial Services Centres Authority
Explanation: NISM and IFSCA collaborated to develop the Basic and Advanced certifications to strengthen cybersecurity capabilities and cyber resilience among employees and key officials in the GIFT IFSC ecosystem.
