Reserve Bank of Indias Circular Ref. RBI/2004-05/420 dated April 15, 2005 titled 'Operational Risk Management - Business Continuity Planning' directs Indian banks as under to make BCP a key pre-requisite: 'Business Continuity planning is a key pre-requisite for minimising the adverse effects of one of the important areas of operational risk - business disruption and system failures. It is imperative that all banks have BCPs in place to be in readiness to tackle serious business disruptions'
Disaster is defined as a sudden calamitous event bringing great damage, loss, or destruction; a sudden or great misfortune or failure. Emergency is defined as an unforeseen combination of circumstances or the resulting state that calls for immediate action; an urgent need for assistance or relief. Catastrophe is defined as a widespread disaster.
Business continuity planning (BCP) is a key pre-requisite for minimising the adverse effects of one of the important areas of operational risk - business disruption and systerm failures.
A major role of BCP process is assessment of the potential risks to the organisation which could result in disasters / emergency situations.
Complementary features of BCP are: risk reduction, emergency plan and business continuity plan.
MODELEXAM® 
www.realsoftinfoplan.com