The Reserve Bank of India has been taking several steps to increase supervision, including adopting the most recent data and analytical tools and utilizing technology to establish automated and efficient work procedures. The Governor, Shri Shakti-Kanta Das, inaugurated a new SupTech project on October 6, 2022, called दक्ष (DAKSH) Reserve Bank’s Advanced Supervisory Monitoring System, which is intended to strengthen the Supervisory procedures.
The word दक्ष “(DAKSH)” signifies “efficient” and “competent,” indicating the application’s underlying capabilities.
With the aim of further enhancing the compliance culture in Supervised Entities (SEs) like Banks, NBFCs, etc., RBI must monitor compliance needs in a more targeted way using “दक्ष (DAKSH),” a web-based end-to-end workflow platform. Through a Platform that allows anytime-anywhere secure access, the application will also enable seamless communication, inspection planning, and execution, cyber incident reporting, and analysis, supply of different MIS reports, etc.