Reserve Bank of India's Utkarsh 2.0 Strategy Framework
The Reserve Bank of India (RBI) has introduced a medium-term strategy framework, Utkarsh 2.0, to outline key strategic pillars and focus areas.
Key Strategic Pillars
- Regulations
- Customer centricity
- Inclusive finance
- Competitive markets
- Effective technology
- Future-ready organisation
- Global India focus
Focus Areas
The framework aims to simplify regulations, deepen financial markets, and enhance accessibility. The RBI plans to:
- Prioritise digitisation and innovation in operations.
- Improve customer service and financial inclusion.
- Strengthen market infrastructure and pricing transparency, especially in government securities.
Technology Adoption
Technology, including artificial intelligence and digitisation of internal processes, is expected to play a central role in RBI operations.
Global Financial Footprint
At the institutional level, the RBI aims to:
- Expand India's global financial presence.
- Promote the internationalisation of the rupee.
- Scale up cross-border payment systems, such as UPI.
Monitoring and Adaptation
The RBI intends to monitor progress under the Utkarsh 2.0 framework periodically, allowing for flexibility to adapt to changing financial conditions.
