The RBI set up a 'War Room' in just one day to protect its employees from coronavirus infection and protect the country's financial system. The war room built at the emergency level is running 90 essential employees of the Reserve Bank. An official said on Sunday that the central bank has prepared the system under the Contingency Action Plan (BCP). The working room from March 19 remains active 24 hours. In this room, 90 most influential people of the Reserve Bank are working. Also, 60 out of 600 primary personnel of external vendors have been included, while 70 people are working in the war room for other facilities too. According to the official, rbi has put in place a system for the safety of its employees with the financial system of the country in which 45 employees work for a time-wise room. The remaining 45 employees are kept in burden for escalation or for any emergency.
For the first time in the world such a system
The official said that this is the first time in the world, including India, when any central bank has implemented such a BCP. Normal BCP is for software and hardware constraints, fire, and natural calamities. No one has such a plan as the Reserve Bank has prepared for the Coronavirus epidemic. In general, the Reserve Bank manages billions of transactions, and about 14,000 people work in its central and 31 regional offices. The services which are now being handled by the war room, normally 1,500 people work in its management. At present, only 10 percent of the employees are coming for a week.
Watch the war room on these services
In this war room, debenture management, stock management, and monetary operations are handled. Under BCP, RBI is managing important services like structured financial messaging system, RTGS, and NEFT. Also, e-Kuber has been provided under which transactions of central and state governments and transactions between one bank to another are being looked after.
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