CLAT Exam > CLAT Questions > How does the Reserve Bank of India (RBI) plan...
Start Learning for Free
How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?
- a)By increasing the frequency of data updates
- b)By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)
- c)By outsourcing climate data collection
- d)By reducing the number of data sources
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
How does the Reserve Bank of India (RBI) plan to improve climate-relat...
The RBI's establishment of the Reserve Bank Climate Risk Information System (RB-CRIS) aims to address the fragmentation and inconsistency in climate-related data. By creating a centralized data repository with a web-based directory and a standardized data portal, the RBI intends to facilitate better climate risk assessments among regulated entities. This initiative is important for maintaining financial stability and making informed decisions regarding climate-related financial risks. An additional fact to consider is that climate risk management is increasingly becoming a priority for financial regulators worldwide, reflecting a global shift toward sustainable finance practices.
Most Upvoted Answer
How does the Reserve Bank of India (RBI) plan to improve climate-relat...
Improving Climate-Related Data Accessibility
The Reserve Bank of India (RBI) recognizes the urgent need to address climate-related risks in the financial sector. One of the key initiatives to enhance data accessibility for regulated entities is the establishment of the Reserve Bank Climate Risk Information System (RB-CRIS).
Why RB-CRIS is the Correct Choice
- Centralized Data Repository: RB-CRIS aims to create a centralized platform for climate-related data, making it easier for financial institutions to access necessary information.
- Enhanced Decision-Making: By providing comprehensive climate risk data, the system will enable banks and financial institutions to make informed decisions regarding their investments and risk assessments.
- Standardization: The establishment of RB-CRIS will help standardize climate-related data, ensuring consistency and reliability across various entities.
- Regulatory Compliance: With a structured data system, regulated entities will find it easier to comply with existing and upcoming regulations related to climate risk disclosures.
- Support for Risk Assessment: The RB-CRIS will facilitate better risk assessment frameworks that incorporate climate-related risks, which is crucial in today’s evolving economic landscape.
Conclusion
In summary, the RBI's initiative to set up RB-CRIS is a strategic move to bolster climate data accessibility for regulated entities. By centralizing and standardizing climate-related information, the RBI aims to enhance risk management and regulatory compliance, ultimately contributing to a more resilient financial system in the face of climate change.
The Reserve Bank of India (RBI) recognizes the urgent need to address climate-related risks in the financial sector. One of the key initiatives to enhance data accessibility for regulated entities is the establishment of the Reserve Bank Climate Risk Information System (RB-CRIS).
Why RB-CRIS is the Correct Choice
- Centralized Data Repository: RB-CRIS aims to create a centralized platform for climate-related data, making it easier for financial institutions to access necessary information.
- Enhanced Decision-Making: By providing comprehensive climate risk data, the system will enable banks and financial institutions to make informed decisions regarding their investments and risk assessments.
- Standardization: The establishment of RB-CRIS will help standardize climate-related data, ensuring consistency and reliability across various entities.
- Regulatory Compliance: With a structured data system, regulated entities will find it easier to comply with existing and upcoming regulations related to climate risk disclosures.
- Support for Risk Assessment: The RB-CRIS will facilitate better risk assessment frameworks that incorporate climate-related risks, which is crucial in today’s evolving economic landscape.
Conclusion
In summary, the RBI's initiative to set up RB-CRIS is a strategic move to bolster climate data accessibility for regulated entities. By centralizing and standardizing climate-related information, the RBI aims to enhance risk management and regulatory compliance, ultimately contributing to a more resilient financial system in the face of climate change.
|
Explore Courses for CLAT exam
|
|
Top Courses for CLATView all
Question Description
How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer?.
How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer?.
Solutions for How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT.
Download more important topics, notes, lectures and mock test series for CLAT Exam by signing up for free.
Here you can find the meaning of How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice How does the Reserve Bank of India (RBI) plan to improve climate-related data accessibility for regulated entities?a) By increasing the frequency of data updatesb) By establishing the Reserve Bank Climate Risk Information System (RB-CRIS)c) By outsourcing climate data collectiond) By reducing the number of data sourcesCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice CLAT tests.
|
|
Explore Courses for CLAT exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup on EduRev and stay on top of your study goals
10M+ students crushing their study goals daily