RBI launches new strategy framework

KOLKATA: The Reserve Bank of India under Governor Shaktikanta Das has come up with a medium-term strategy framework aimed at fostering confidence in the internal and external value of the rupee and contributing to macroeconomic stability and regulating markets and institutions under its ambit to ensure financial system stability and consumer protection.

The vision statement – ‘Utkarsh 2022’ – comes amid changes in the RBI-government engagement and focus that its supervisory function was wanting. According to the document, the effort includes enhancing the RBI’s brand equity in other jurisdictions and amplifying international financial engagement by articulating the central bank’s stance and views on major global economic and regulatory policy issues, taking account of the specific Indian characteristics.

The RBI is also aiming at strengthening the external communication framework to convey its roles and functions.


The core purpose of this initiative is “to foster monetary and financial stability conducive to sustainable economic growth and to ensure the development of an efficient and inclusive financial system.” The mission is “to promote the economic and financial well being of the people of India in terms of price and financial stability; fair and universal access to financial services; and a robust, dynamic and responsive financial intermediation infrastructure.”

The RBI said these core purposes and values remain valid while a need was felt to have a medium term dynamic vision statement.