Daksh – The Able And Honest

Daksh is a new “Super Technology” which literally means in Sanskrit as Able, Dexterous, Or Honest One.

Shaktikanta Das, the Governor of the Reserve Bank of India has launched a new “SupTech” initiative Daksh, which is expected to make the bank’s supervisory processes more able and efficient.

Who Was Daksh In Hinduism?

Daksha (Sanskrit: “able, dexterous, or honest one”) is one of the Prajapati, the agents of creation, as well as a divine king-rishi. He is a Manasaputra, a mind-born son of the creator god Brahma.

“the skilled one”, is said to be the son of Aditi and Brahma. He is also the father of Diti and Aditi, Kashyapa’s wives and Sati’s sisters.

Here is everything about him – Daksha

The RBI stated that it had been taking measures to strengthen the supervision of financial institutions, adopting the latest technical data and analytical tools.

Daksh – What Does The Supervisory Monitoring System Mean?

• Daksh would make communication, planning, and execution of inspections effortless.
• Additionally, Daksh will permit the reporting and analysis of cyber incidents, as well as the delivery of several management information systems (MIS), reports.
• Through a platform that permits anytime-anywhere secure access, the application will make all of these services available.
• Daksh stands for “efficient” and “competent,” indicating the application’s core skills.

Daksh – What Is This?

Daksh, a web-based end-to-end workflow platform developed with the aim of further enhancing the compliance culture in supervised entities (SEs), such as banks and non-banking financing firms (NBFCs), RBI will identify compliance needs, more carefully and efficiently using Daksh.

Importance Of Reserve Bank Of India

Download the Reserve Bank of India: Functions and Working PDF

• The Reserve Bank of India (RBI) was established on April 1, 1935.
• It has a critical role in regulating financial transactions in the country.
• The main functions of the RBI include the issue of bank notes, custodian of the cash reserves of Commercial Banks, etc.

Rbi Governor

• Shaktikanta Das is the 25th governor of the Reserve Bank of India.
• He is a retired 1980-batch Indian Administrative Service officer of the Tamil Nadu cadre.
• Das was earlier a member of the Fifteenth Finance Commission and India’s Sherpa to the G20.