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New Advanced Monitoring System ‘DAKSH’ Launched by RBI

Current Affairs

  • Reserve Bank Governor Shaktikanta Das on October 06, 2022 launched a new ‘SupTech’ initiative DAKSH – the bank’s Advanced Supervisory Monitoring System, which is expected to make the supervisory processes more robust.
  • 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 which enables anytime-anywhere secure access.

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