The Reserve Bank of India has shortlisted 5 IT firms for the implementation of a centralized information and management system (CIMS) for seamless data collection and validations. RBI had invited proposals from solution providers for CIMS by overhauling its data warehouse. The shortlisted firms are TCS, Infosys, Capgemini, IBM India and Larsen & Toubro Infotech. RBI wants a combination of data warehouse and data lake for the purpose of 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 a data dissemination platform. The CIMS would also include centralized analytics platform to facilitate creation of RBI Data Sciences Lab. The 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.
