RBI launched SupTech app, DAKSH to improve supervisory processes

RBI launched SupTech app, DAKSH to improve supervisory processes: The Governor of RBI, Shaktikanta Das has launched a new ‘SupTech’ initiative called DAKSH.

October 2022 Current Affairs Quiz

Aim: It will be the advanced supervisory monitoring system of bank.

It will help to make the supervisory processes more robust.

DAKSH:

It is a web-based end-to-end workflow application. With the help of this, RBI shall monitor compliance requirements in a more focused manner. This also improves the compliance culture in Supervised Entities (SEs) like Banks, NBFCs, etc.