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RBI governor launches advanced supervisory monitory system - Daksh

By ANI | Published: October 07, 2022 8:53 AM

The governor of the Reserve Bank of India (RBI), Shaktikanta Das, launched a new 'SupTech' initiative Daksh - the central bank's advanced monitoring system - which is expected to make the supervisory processes more robust.

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The governor of the Reserve Bank of India (RBI), Shaktikanta Das, launched a new 'SupTech' initiative Daksh - the central bank's advanced monitoring system - which is expected to make the supervisory processes more robust.

The RBI on late Thursday said in a release that it had been taking various initiatives in strengthening supervision, which among other initiatives include the adoption of latest data and analytical tools as well as leveraging technology for implementing more efficient and automated work processes.

The official statement said: "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 (non-banking finance companies), etc."

It added that the application would also enable seamless communication, inspection planning and execution, cyber incident reporting and analysis, and provision of various management information system (MIS) reports, among others, through a platform which enables anytime-anywhere secure access.

Daksh means 'efficient' and 'competent', reflecting the underlying capabilities of the application, the RBI said.

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: DakshReserve Bank Of IndiaThe finance ministry of indiaMonetary policy committee of the rbiCentral board of reserve bank of indiaReserve bank of india governorFinance ministry and reserve bank of indiaNew india strategyReserve bank of india's boardDeputy governor of reserve bank of indiaReserve bank of india's monetary policy committee
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