RBI launches advanced supervisory monitoring system DAKSH
Team Udayavani, Oct 7, 2022, 10:25 AM IST
Reserve Bank Governor Shaktikanta Das on Thursday launched a new ‘SupTech’ initiative DAKSH – the bank’s Advanced Supervisory Monitoring System, which is expected to make the supervisory processes more robust.
In a statement, the Reserve Bank of India (RBI) said it 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.
”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,” it said.
The application will also enable seamless communication, inspection planning and execution, cyber incident reporting and analysis, and provision of various 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.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
MUST WATCH
Latest Additions
Wayanad LS bypoll: Priyanka in lead by over 55,000 votes after close to 2 hrs of counting
Perth Test: Day 2 Lunch — Bumrah gets five-for as Australia bowled out for 104
Delhi govt announces Rs 10 lakh compensation to family of drain accident victim
Jharkhand polls: BJP leading in 39, JMM ahead in 38
Binny Bansal steps down from board of PhonePe
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.