RBI launches DAKSH - Reserve Bank’s Advanced Supervisory Monitoring System

Oct 06, 2022 | by TeamLease RegTech Legal Research Team

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Finance & Taxation ComplianceThe Reserve Bank of India (RBI) on October 06, 2022, launched DAKSH which is an Advanced Supervisory Monitoring System. The RBI had been taking various measures in strengthening supervision, which includes the adoption of the latest data and analytical tools as well as leveraging technology for implementing more efficient and automated work processes.

DAKSH means ‘efficient’ & ‘competent’, reflecting the underlying capabilities of the application. 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 that enables anytime-anywhere secure access.

[Press Release: 2022-2023/1004]


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