Business

RBI sets contingency plan in motion, identitifies property to host personnel

A property in the vicinity of the primary data centre has been identified to host 150 personnel of the RBI and service providers./ Photo for representation

A property in the vicinity of the primary data centre has been identified to host 150 personnel of the RBI and service providers./ Photo for representation   | Photo Credit: Reuters

Aim is to protect financial markets

The Reserve Bank of India (RBI) has put in motion a contingency plan in the wake of the spread of COVID-19 to ensure that the financial markets continue to function smoothly.

A property in the vicinity of the primary data centre has been identified to host 150 personnel of the RBI and service providers. About 70 support staff were also isolated within the hotel on a continuous basis.

Since information technology infrastructure forms the backbone of most businesses, and especially the financial system, RBI data centres play a crucial role.

About 600 people belonging to third-party service providers are generally deployed at data centres for non-IT and IT services, apart from 60 RBI officials.

“All residents have been asked to be prepared for the separation, while being assured that one can leave the group in case of any family or other emergency,” said a source. This plan was implemented from Thursday to ensure continuity of critical services of the RBI.

Similar arrangements have been made at other data centres too to run systems with maximum services whenever there is a need to shift operations from the current location.

The data centres of the central bank run critical systems like real time gross setllement, national electronic fund transfer, services for government and interbank transactions, currency management, among others.

Under the minimum staffing plan, two batches are formed, with the second batch kept on ready standby to take over when required. A backup replacement pool was also prepared.

A team of 37 officials was formed comprising key personnel from important functions like debt management, reserve management, monetary operations etc.

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Printable version | Apr 3, 2020 1:01:44 AM | https://www.thehindu.com/business/rbi-sets-contingency-plan-in-motion-identitifies-property-to-host-personnel/article31122288.ece

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