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RBI<\/a> has asked UCBs<\/a> with assets over and above of Rs 2,000 crore to implement system-based asset classification with effect from June 30, 2021.<\/p>\n UCBs with assets between Rs 1,000 \u2013 Rs 2,000 crore as on March 31, 2020 after self-assessment and being under level III or level IV under the December 2019 guidelines on cyber-security<\/a> shall implement system-based asset classification with effect from September 30, 2021.<\/p>\n RBI has directed UCBs meeting the criteria as at the end of the financial year shall implement system-based asset classification within a period of six months from the appointed system date. <\/p>\n RBI said, \u201cFor smooth implementation of the system, all concerned UCBs may conduct pilot\/parallel run and evaluate the results for accuracy\/integrity of the asset classification in compliance with the applicable RBI instructions so as to ensure that they are ready for implementation of the system-based asset classification from the appointed date.\u201d<\/p>\n The regulator has also encouraged the UCBs not falling in the above criteria to implement system based asset classification<\/p>\n<\/div>\n