Question
With reference to the Supervisory Data Quality Index
(sDQI) released by the RBI, consider the following statements: 1. The sDQI of Scheduled Commercial Banks improved to 89.3 in March 2025 from 88.6 in the previous year. 2. It measures aspects such as accuracy, timeliness, completeness, and consistency of financial data submitted by banks. 3. The index is restricted only to public sector banks and excludes private and small finance banks. Which of the statements given above is/are correct?Solution
• Statement 1 is correct: The Supervisory Data Quality Index (sDQI) improved from 88.6 in 2024 to 89.3 in March 2025, indicating progress in data reliability. • Statement 2 is correct: The sDQI assesses accuracy, timeliness, completeness, and consistency of financial data submitted by Scheduled Commercial Banks. • Statement 3 is incorrect: The index covers all 87 banks, including public, private, and small finance banks. It is not limited to public sector banks alone. The improvement highlights stronger data governance, transparency, and accountability, enabling the RBI to better monitor risks and detect stress early in the financial system. Thus, the correct answer is (a) 1 and 2 only.
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