The project has to be completed within a year of the commencement of the contract with the RBI.
The CIMS will comprise of DW and Data Lake (DL) which would include, seamless data collection from regulated entities by creating system-to-system interface; system driven data validation and data review; flexible and scalable data repository and providing data dissemination platform.
The RBI, in April last year, had announced to gainfully harness the power of big data analytics by setting up a data sciences lab that will comprise experts and budding analysts, internal as well as lateral, who are trained inter alia in computer science, data analytics, statistics, economics, econometrics and/or finance.
One of the functional requirements for CIMS, as per the EOI, was establishing system-to-system interface for automated element based data collection from about 130 banks/entities.
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