{"id":38067,"date":"2023-03-15T12:46:37","date_gmt":"2023-03-15T07:16:37","guid":{"rendered":"https:\/\/plyinsight.com\/?p=38067"},"modified":"2023-04-03T11:48:28","modified_gmt":"2023-04-03T06:18:28","slug":"how-rbi-ensured-payment-system-stayed-covid-proof","status":"publish","type":"post","link":"https:\/\/plyinsight.com\/hi\/how-rbi-ensured-payment-system-stayed-covid-proof\/","title":{"rendered":"How RBI ensured payment system stayed Covid-proof"},"content":{"rendered":"
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The Reserve Bank of India (RBI) went on war footing and created a \u201cbio-bubble\u201d arrangement across its data centres to ensure all its critical functions ran with zero downtime and full efficacy during the pandemic. The crisis management team approved the setting up of the bio bubble on March 17, 2020, a week before the nationwide lockdown was announced.<\/span><\/p>\n

To ensure adequate supply of currency to the public, bank notes and coins in various denominations were transported by arranging dedicated trains and airlifting of currency.<\/span><\/p>\n

These were among the hundred measures that were taken by India’s central bank during the Covid period to ensure financial stability. \u201cWe in the RBI mobilised on an unprecedented scale and speed to put in place a cross-functional response that ensured the discharge of all our responsibilities and mandates effectively without compromising on the wellbeing of our employees and their families,\u201d<\/strong><\/em><\/span> Governor Shaktikanta Das said in the foreword \u201ccompendium on Business Continuity Measures\u201d. This is the first time that the RBI put out the details of measures carried out during the pandemic.<\/span><\/p>\n

The idea behind the measures was to insulate the economy and the financial sector; ensuring uninterrupted conduct of its crucial functions and maintaining business continuity; supporting its employees, service providers and other stakeholders.<\/span><\/p>\n

According to the documents released, 200 staffers, consisting of RBI officials and support teams, who are essential to perform critical functions, were isolated at a separate facility in a dedicated quarantined environment near all three RBI data centres.<\/span><\/p>\n

As a result of this, the entire operations of the RBI’s centralized payment systems, treasury, core banking solutions (eKuber), transactions in government accounts, and the RBI’s internal accounts and systems relating to currency management ran uninterrupted from these data centres.<\/span><\/p>\n

\u201cThe staff were rotated every fortnight, after thought screening by the RBI’s in-house doctors. The rotation was done for 538 days, ensuring employee welfare and business continuity through unhindered operations,\u201d the central bank said.<\/span><\/p>\n

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