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

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

Free Exam Resources

Useful material to support your preparation, revision and exam planning.

Continue on BankExamsToday

Revise notes, practice questions and resume anytime.

Meet your mentor

From the Founder

Ramandeep Singh, founder of BankExamsToday

Ramandeep Singh

Banking Educator · Former Banker

Former banker and educator helping aspirants prepare for banking promotion and specialist officer exams with focused, practical guidance.

14+
Years' experience
5,000+
Selections
Ex-BoB
Banking experience