Platform for Regulated Entities for Integrated Supervision and Monitoring (PRISM)
The Platform for Regulated Entities for Integrated Supervision and Monitoring (PRISM) is to be launched by the Reserve Bank of India. It is a web-based end-to-end workflow automation system that will strengthen compliance by supervised entities, which include banks and non-banking financial companies.
The new solution will seek to ensure speedy identification of risks faced by the supervised entities so that their internal defences and resilience is strengthened. It will promote more frequent profiling of risks and supervisory assessment to bring the focus on to the root cause analysis.