Reserve Bank of India (RBI) Governor Shaktikanta Das on October 6 launched a new SupTech initiative “DAKSH”.
Key points
- DAKSH is Reserve Bank’s Advanced Supervisory Monitoring System to make the Supervisory processes more robust.
- 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.
