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‘Regulated Entities for Integrated Supervision and Monitoring (PRISM)’

Published on August 20, 2021
Current Context: The Reserve Bank of India is implementing a web-based end-to-end workflow automation system to give strength to compliance by supervised entities (SEs).
‘Regulated Entities for Integrated Supervision and Monitoring (PRISM)’
  • The web-based end-to-end workflow automation system is named as ‘Platform for Regulated Entities for Integrated Supervision and Monitoring (PRISM)’.
  • The PRISM will help supervised entities to strengthen their internal defenses and resilience
  • It will allow SEs to focus on Root Cause Analysis (RCA)
  • The PRISM will be having features like functionalities with respect to inspection; compliance; incident functionality for cybersecurity; complaints; and returns functionalities
  • It will be having built-in remediation workflows, tracking of time, alerts, and notifications
  • Also, it will be comprised of management information system (MIS) reports and dashboards
  • Static Part: 
  • HQ of RBI: Mumbai
  • Governor of RBI: Shaktikanta Das

Question: 

Ques: 1: The RBI will be implementing PRISM, which is a web-based end-to-end workflow automation system to give strength to compliance by supervised entities (SEs). What does ‘S’ signifies in PRISM?
a. Safe
b. Secured
c. Supervision
d. Superfast
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