RBI launches 'DAKSH' to monitor compliance requirements

The Reserve Bank of India (RBI) on 6 October launched a web-based end-to-end workflow application, 'DAKSH', to make the supervisory processes more robust.
The central bank said in a release that this application will 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.
Today's announcement was in continuation of various initiative the central bank has been taking, which includes adoption of latest data and analytical tools as well as leveraging technology for implementing more efficient and automated work processes.