RBI paper moots index for central banks, regulators to monitor data quality
This story was originally published at 21:19 IST on 20 October 2025
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NEW DELHI – A Reserve Bank of India paper has proposed an approach to construct a data quality index for central banks and regulators to monitor the quality of the data submitted by regulated entities. "The proposed DQI (data quality index) framework enables central banks and regulators to monitor and improve data quality systematically enhancing institutional credibility, regulatory and supervisory efficiency, and public trust," the paper by RBI staff members Debasis Nandi and Sujeesh Kumar said.
The paper outlines a stepwise approach for constructing the data quality index using eight data quality dimensions. It broadens upon four data quality dimensions typically applied in the Indian banking supervisory landscape, encompassing data collection and dissemination processes.
"While the data quality management is a continuous process, the framework provided in this article can serve as a benchmark for the other financial institutions or data-driven policymakers aiming to integrate data quality into their data governance strategies," the paper said.
The index framework aims to enable central banks and regulators to monitor and improve data quality systematically enhancing institutional credibility, regulatory and supervisory efficiency, and public trust. The framework highlights the significance of automation in data generation and collection processes for enhancement of data quality in the institutional data governance, the paper said. End
Reported by Shubham Rana
Edited by Akul Nishant Akhoury
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