RBI launches (DAKSH) - Reserve Bank's Advanced Supervisory Monitoring System- (Reserve Bank of India) (06 Oct 2022)

MANU/RPRL/0462/2022

Banking

The Reserve Bank of India has been taking various initiatives in strengthening supervision, which among other initiatives include adoption of latest data and analytical tools as well as leveraging technology for implementing more efficient and automated work processes. In continuation of this effort, Shri Shaktikanta Das, Governor, today launched a new SupTech initiative named "nÕ (DAKSH) - Reserve Bank's Advanced Supervisory Monitoring System", which is expected to make the Supervisory processes more robust.

'nÕ (DAKSH)' means 'efficient' & 'competent', reflecting the underlying capabilities of the application. 'nÕ (DAKSH)' is a web-based end-to-end workflow application through which RBI shall monitor compliance requirements in a more focused manner with the objective of further improving the compliance culture in Supervised Entities (SEs) like Banks, NBFCs, etc. The application will also enable seamless communication, inspection planning and execution, cyber incident reporting and analysis, provision of various MIS reports etc., through a Platform which enables anytime-anywhere secure access.

Tags : DAKSH LAUNCH MONITORING SYSTEM