Tata Consultancy Services Ltd. will apply Reserve Bank of India’s centralized information and management system for uninterrupted data collection and validations at a cost of Rs 310.52 crore.
The project has to be completed within a year of the commencement of the RBI contract. TCS pipped other IT majors like IBM India, Infosys Ltd., L&T Infotech Ltd. to get the RBI contract.
RBI had invited of expression of interest in July 2018 for identification of solution provider for implementation of CIMS by overhauling the data warehouse of the central bank.
The CIMS will comprise of data warehouse and data lake, 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.
The CIMS would also include centralized analytics platform to facilitate the creation of RBI Data Sciences Lab.
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On Wednesday, TCS shares rose 0.25 percent to Rs 2,258.45 apiece on the BSE.