Banks to install 5 MP CCTV cameras by 2025 deadline

October 10, 2024 (MLN): To facilitate the phased installation of Closed Circuit Television (CCTV) cameras, the central bank has advised banks and microfinance banks (MFBs) to update their internal Standard Operating Procedures (SOPs).

These updates should prescribe and standardize, among other things, the installation points of CCTV cameras within and around branch premises (e.g., ATM vestibules, branch entrances, and any vantage points outside branches), the minimum preservation period for visual records, and the quality of cameras deployed, including the required minimum resolution standards to ensure round-the-clock recording

Moreover, Banks/MFBs shall install CCTV cameras of at least five (5) Megapixels (MPs) instead of the earlier advised specification of at least six (6) MPs, along with allied paraphernalia (e.g. storage devices, wiring, etc.).

Banks/MFBs are also advised to install the prescribed CCTV cameras at all critical points of the existing branch premises that are located in Tier 1 cities, as provided in Branch Licensing Policy, and high-risk geographies by March 31, 2025.

For this purpose, Banks/MFBs shall define high-risk geographies and the number & location of critical points in and around branch premises in their updated internal SOPs for installation of CCTV cameras; and

Additionally, cameras are to be installed in all new branches to be established and existing branches are to be renovated under the normal course of the annual budgeted plan.

These requirements will also be applicable to all new branches being established and existing branches being renovated under the annual budget for CY2024, where procurement orders for CCTV cameras and related paraphernalia have not been placed.

SBP also directed that Banks/MFBs may, at their discretion, opt for the accelerated installation of prescribed cameras across their entire branch network.

Moreover, banks/MFBs are advised to submit a plan for implementation of the above regulatory instructions to the relevant Banking Supervision Department.

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