RBI sets up committee to review data management

The Reserve Bank today set up a committee to review its system of data management and the panel will also study the feasibility of moving towards to a more integrated data production processes.
"It has been decided to constitute a committee to comprehensively review the current system of data collection, dissemination and data management processes in the RBI and examine the feasibility of moving towards granular, multi-purpose data collection and more integrated and structured data production processes within the RBI," Reserve Bank of India (RBI) said in a release.
The committee will be chaired by its Executive Director Deepak Mohanty.

The Committee will recommend measures with a view to further reducing the burden on reporting entities, delivering quality information to data users and reinforcing the management information system for policy making, it added.
The committee will review availability, coverage, frequency, timeliness and quality of existing data or surveys or information that is used for monetary policy, macro- financial policy, supervision.
Besides, it will also review recommendations of earlier committees or working group on data gaps and information management, it said.
The committee will also suggest changes in the process of receipt, storage, access, management and dissemination of monetary, macro-financial and supervisory data.