Specialized Supervisory and Regulatory Cadre
Relevance: Mains: G.S paper III: Economy
Why in news?
- The Reserve Bank of India has decided to recruit 35% of the specialised supervisory and regulatory cadre from the market while the remaining 65% will be recruited via internal promotions.
Key highlights:
- In an internal circular, the central bank said that direct recruitment in the Specialized Supervisory and Regulatory Cadre (SSRC) will be at Grade B level.
- The Specialized Supervisory and Regulatory Cadre (SSRC) will comprise officers in Grade B to Executive Director level.
- RBI said in case there was a shortfall in filling up any vacancy in the specialist groups in Research, Data Analysis, Model Development, Stress Testing and the like, then lateral recruitment will be resorted to in respect of such shortfall.
- The move was aimed at dealing more effectively with potential systemic risk that could come about due to possible supervisory arbitrage and information asymmetry.
National Data and Analytics Platform
Relevance: Mains: G.S paper II: Polity
Why in news?
- NITI Aayog released its vision for the National Data and Analytics Platform (NDAP).
- The development of NDAP will take place over a period of one year. The first version of the platform is expected to be launched in 2021.
Key highlights:
- The platform aims to democratize access to publicly available government data.
- It will host the latest datasets from various government websites, present them coherently, and provide tools for analytics and visualization.
- NDAP will follow a user-centric approach and will enable data access in a simple and intuitive portal tailored to the needs of a variety of stakeholders.
- NDAP will spearhead the standardization of formats in which data is presented across sectors and will cater to a wide audience of policymakers, researchers, innovators, data scientists, journalists and citizens.
- An inter-ministerial committee will oversee the progress of the development of platform and a group of leading experts have been inducted into an advisory group to provide technical guidance for the development of the platform.
- The process will follow a user-centric approach, and will incorporate feedback received from various users and stakeholders throughout the course of its development.