Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

RBI operating from war-room set up in just one day amid coronavirus outbreak

PTI
Updated: March 22nd, 2020, 15:17 IST
in Business, Coronavirus, National
0
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Mumbai: The Reserve Bank of India is virtually being run from a war-room at a city facility manned by just around 90 critical staff as the nation’s monetary authority works to insulate the financial system from disruptions due to the coronavirus pandemic.

The facility, operational from March 19 as part of the Business Contingency Plan (BCP), was up and running in 24 hours of the central bank taking a decision to this effect, according to an official. The war-room is in fact manned by 90 most critical staff from the Reserve Bank, 60 key personnel from its 600-people strong workforce from its external vendors and around 70 facility staff.

Also Read

Pic- Govt of Odisha

Market manipulation is not going to be tolerated: Sebi Chairman Pandey

8 hours ago
Newlywed couple found hanging from same rope in bedroom; police say...

Newlywed couple found hanging from same rope in bedroom; police say…

10 hours ago

The operation is so controlled for the sake of security and health of the personnel as also of the system that the BCP manual allows only half of the 90 staff to be present at any given time and the rest are on standby.

“This is the first of its kind BCP implementation by any central bank in the world and is also the first in our history because even during the World War II we did not have any such facility,” the official from RBI informed Sunday.

The most critical functions that the war-room handles are debt management, reserve management and monetary operations.

Under the BCP, other data centres of the RBI run critical systems like the SFMS (Structured Financial Messaging System), RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer). There is also ‘e-Kuber’ that includes services for the central and state governments’ transactions, and inter-bank transactions, among others.

“This is a model being attempted first time ever in our financial system and perhaps anywhere in the world. The normal BCP is for software hardware problems, fire, or other natural calamities and no one has such a plan as the RBI has put in place to fight the coronavirus pandemic,” informed the official.

“What is also unique is that no national institutions or central banks anywhere in the world have a BCP for pandemics where the people also maintain social distancing in accordance with established protocols. This includes donning hazmat suits as well,” the official added.

On a normal day, the RBI, which handles billions of transactions, is served by around 14,000 employees spread across its 31 regional offices and the central office here. And the most critical operations mentioned above are handled by around 1,500 of them.

For more than a week now, only around 10 per cent of the staff is coming to the central office which houses around 2,000 people, according to RBI union sources since the outbreak of the coronavirus.

PTI

 

 

Tags: BanksCoronavirusdebtFinanciaReserve bank of indiatransactionsWar room
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019
#MyPaperBagChallenge

Sibarama Khotei

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Nishikant Rout

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019
#MyPaperBagChallenge

Debasis Mohanty

December 12, 2019
#MyPaperBagChallenge

Priyasha Pradhan

December 12, 2019
#MyPaperBagChallenge

Bijswajit Pradhan

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Vandana Singh

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Geetanjali Patro

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Lopali Pattnaik

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019

Archives

Editorial

India’s Spy Shift

July 5, 2025

India’s espionage architecture is quietly shifting. The appointment of Parag Jain as the new chief of RAW comes at a...

Read more

Hungary Lessons

Hungary
July 2, 2025

Revolting against oppression and seeking freedom is ingrained in human nature, something that a repressive regime finds out sooner or...

Read more

New Democratic Face

Zohran Mamdani
July 1, 2025

US President Donald Trump, who had comfortably defeated his Democratic rival Kamala Harris in the recent presidential election and exuded...

Read more

Proof To Vote

Vote
June 30, 2025

Months ahead of the Assembly polls in Bihar, the Election Commission of India (ECI) on 28 June launched a ‘special...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST