IT major Tata Consultancy Services will implement Reserve Bank’s centralised information and management system (CIMS) for seamless data collection and validations.
TCS defeated other IT majors like IBM India, Infosys, Larsen & Toubro Infotech to get the key project worth Rs 310.52 crore.
The CIMS will comprise of DW and Data Lake (DL) which would include, seamless data collection from regulated entities by creating system-to-system interface; system driven data validation and data review; flexible and scalable data repository and providing data dissemination platform.
Besides, the CIMS would also include centralised analytics platform to facilitate creation of RBI Data Sciences Lab.
The RBI, in April last year, had announced to harness the power of big data analytics by setting up a data sciences lab that will comprise experts and budding analysts.
The deal comes few days after Tata Consultancy Services surpassed Reliance Industries to become the most valued firm by market valuation. At close of trade, the market capitalisation (m-cap) of TCS was at Rs 8,37,194.55 crore, which was Rs 1,170.47 crore more than that of RIL’s Rs 8,36,024.08 crore on the BSE.