RBI shortlists 5 companies for audit and risk monitoring mechanism

Reserve Bank of India has shortlisted 5 companies for Audit and Risk Monitoring Mechanism (AMRMS) for Central Bank from five “potential shortlisted”.

The five short-listed companies are:

1. Auditime Information Systems Pvt Ltd-Mumbai,
2. NCSSoft Solutions Pvt Ltd-Chennai,
3. PWC Pvt Ltd- Mumbai,
4. Quadrant 4 Software Solutions Pvt Ltd,Chennai
5. Thomson Reuters Pvt Ltd Mumbai.

Key Highlights

• The RBI has decided to implement Audit and Risk Monitoring Mechanism (AMRMS) to accomplish various audits and risk monitoring related activities efficiently in a flawlessly incorporated manner.
• Making the Whole System fully computerized and replacing the existing system which is partially computerized.
• The objective of AMRMS is to enable paperless office environment in the banking sector.
• The envisioned AMRMS, the RFP should be capable of providing an end-to-end solution from audit planning to final closure
• To provide a centralized web-based application system that will browse independent and would be able to hosted at Data Centre and impeccably connect all stakeholders for its usage.

About RBI

• The Reserve Bank of India (RBI) is India’s central banking institution, which controls the monetary policy of the Indian rupee.
• Reserve Bank of India (RBI) was nationalised on 1 January 1949.
• RBI plays an important part in the Development Strategy of the Government of India.
• The Reserve Bank of India has four zonal offices at Chennai,  Delhi,  Kolkata  and  Mumbai.