RBI to launch web-based supervisory system

The Reserve Bank of India will launch a web-based supervisory system that will enable off-site and on-site supervision of modern functions such as digital banking and cyber security. RBI Deputy Governor M. K. Jain informed this while speaking at a private function in Mumbai.

After this, banks need to be careful in complying with rules and invest in technologies to meet the supervisory challenges as they experiment with new services in the post-COVID world through ultimately governance standards, business model, risk culture, and assurance functions.