Applicable Act/Rule: Reserve Bank of India, 1934
Reserve Bank of India (RBI), through previous circulars dated January 31, 2024, and November 25, 2024, directed all Regulated Entities (REs) — including banks and NBFCs — to develop or adopt workflow-based compliance monitoring systems. These systems must integrate with the RBI’s DAKSH supervisory portal through a Straight-Through Processing (STP) model to enable automated, timely, and secure compliance submissions.
In a follow-up communication from the DAKSH Team, it has now been clarified that this integration will rely on an API-based push/pull mechanism. Under this framework, REs will be responsible for:
This ensures seamless data exchange while maintaining strict data protection protocols. The detailed API usage guidelines will be shared separately by the RBI, which REs may pass on to their vendors or third-party developers as needed.
This move underscores the RBI’s continued effort to digitalise supervisory workflows, reduce manual intervention, and enhance regulatory efficiency across financial institutions.
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