RBI to rope in consultant to keep disruptions at bay

The Reserve Bank is working on plans to appoint a firm to provide end-to-end consultancy for implementation of the Business Continuity Management (BCM) programme in the bank.
The idea is to put in place, in advance, measures to minimise occurrence of disruptions and mitigate the impact of such events (if they do occur), and ensure safety and security of the staff in the event of a disaster or crisis, RBI said.
The other objective is restoration of the central bank's critical applications, core business processes and functions and to ensure BCM arrangements are ongoing and subject to regular reviews, audits and exercises.

"The consultancy would be an end-to-end consultancy to be executed in various phases starting from the study of the Bank's existing processes to the rollout of the BCM programme across the Bank's various offices and departments...," the central bank said while inviting bids from reputed consulting companies or firms in this regard.
The BCM programme will be implemented at the enterprise level encompassing the central and regional offices of Mumbai, Nagpur and Chennai.
"It will be aligned to global BCM good practices and BCM standards like ISO 22301. It will cover the components of people, process and infrastructure," RBI said while defining the scope of the BCM programme.

The consultant will also review existing BCM governance structure and recommend improvements.
As of June 30, 2015, the bank had approximately 17,000 workforce comprising officers, assistants and sub-staffers.