Economy

RBI launches DAKSH application to advance supervisory process

By: helloscholar news team

Date:

The Reserve Bank of India (RBI) governor Shaktikanta Das launched a new ‘SupTech’ initiative called DAKSH. This application will be the bank’s advanced supervisory monitoring system, which is expected to make the supervisory processes more robust.

DAKSH means ‘efficient’ and ‘competent’, reflecting the underlying capabilities of the application, RBI said.

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,” the banking regulator said.

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

━ related

Cyclone Biparjoy: India Issues Alerts as Severe Weather System Approaches

0
India has issued alerts and initiated precautionary measures as Cyclone Biparjoy intensifies and approaches coastal areas. With the potential for strong winds, heavy rainfall, and storm surges, authorities are taking proactive steps to ensure the safety of residents, evacuate vulnerable areas, and provide necessary support and resources to mitigate the impact of the cyclone.

International Day for the Fight Against Illegal, Unreported, and Unregulated Fishing 2023: A Global Call to Preserve Oceanic Resources

0
The International Day for the Fight Against Illegal, Unreported, and Unregulated (IUU) Fishing is observed on [date] each year to raise awareness about the detrimental impact of IUU fishing practices on marine ecosystems and coastal communities. This day serves as a reminder of the urgent need for international collaboration and stringent measures to combat IUU fishing and ensure sustainable management of our oceans.

Dennis Francis Elected 78th UNGA President: A New Leadership for Global Diplomacy

0
Dennis Francis, a respected diplomat, has been elected as the 78th President of the United Nations General Assembly (UNGA). His appointment brings fresh leadership and a commitment to fostering international cooperation, addressing global challenges, and advancing the agenda of peace, development, and human rights.

Regulator Directs SBI Life to Take Over Sahara Life Policies: Ensuring Stability and Protection for Policyholders

0
In a regulatory move, SBI Life Insurance has been directed to take over the policies of Sahara Life Insurance, ensuring continuity and safeguarding the interests of policyholders. This directive by the regulatory authority aims to maintain stability in the insurance sector and provide assurance to customers amidst the transition.

UAE to Host World’s Largest Conservation Conference in 2025: A Global Initiative for Environmental Preservation

0
The United Arab Emirates (UAE) has been selected as the host country for the world's largest conservation conference in 2025. This prestigious event will bring together experts, policymakers, and environmental enthusiasts from around the globe to address pressing conservation challenges, exchange knowledge, and forge new partnerships in the pursuit of a sustainable future.

© helloscholar


Home

PDF

Join Study Group