Banks Told To Adopt RBI’s Daksh Platform For Compliance Monitoring

The Reserve Bank of India (RBI) has directed banks to integrate their compliance monitoring systems with its Daksh platform, as reported by ET.

While public sector banks are making changes, some foreign banks have expressed concerns over recalibration needs. The RBI extended the deadline for integration to April 2025, enabling implementation via straight-through processing (STP). A January circular highlighted the need for unified, enterprise-wide solutions to improve compliance monitoring. Launched last year, Daksh streamlines compliance monitoring and promotes a consistent compliance culture. The directive follows concerns about varying automation levels in current compliance systems, which range from basic spreadsheets to advanced software tools.