RBI Governor launches Utkarsh 2.0 - Careerswin

RBI Governor Launch of Utkarsh 2.0

The Reserve Bank of India (RBI) has launched Utkarsh 2.0, the second phase of its medium-term strategy to strengthen the regulatory and supervisory machinery. RBI governor Utkarsh 2.0 builds on the foundation laid by Utkarsh 2022, which was launched in July 2019 and covered the period from 2019 to 2022. The current RBI governor is Shaktikanta Das.

RBI governor Utkarsh 2.0 will guide the RBI over the period from 2023 to 2025 and consists of six vision statements designed to improve Performing statutory and other functions of the RBI, enhancing its relevance and importance nationally and globally, and improving its internal governance, 

infrastructure and human resources.

RBI governor Utkarsh 2.0

RBI governor Launch of Utkarsh 2.0 is the second phase of RBI's medium-term strategy to strengthen the regulatory and supervisory mechanism. It builds on the foundation laid by Utkarsh 2022, which was launched in July 2019 and covers the period from 2019 to 2022. 

Utkarsh 2.0 will guide the RBI over the period from 2023 to 2025 and consists of six vision statements designed to improve performance. The statutory and other functions of the Reserve Bank of India enhance its relevance and importance at the national and global level, and improve its internal governance, infrastructure and human resources.

The six vision statements are:

• Excellence in the performance of statutory and other functions: The objective of this vision statement is to improve the performance of statutory and other functions of the RBI to better serve the needs of the Indian people and the economy.
• Stronger Trust of Citizens and Institutions in RBI: This vision statement seeks to enhance the trust of citizens and institutions in RBI, as it is essential for RBI to effectively fulfill its mandate.
• Enhanced Relevance and Importance in National and Global Roles: The objective of this vision statement is to improve the relevance and importance of the RBI at the national and global levels, as this will enable the RBI to contribute better to the stability and growth of the Indian economy.
• Transparent, Accountable and Ethics Driven Internal Governance: This vision statement focuses on improving the internal governance of RBI by making it more transparent, accountable and guided by a strong ethical code.
• Best-in-class and environment-friendly digital and physical infrastructure: This vision statement seeks to improve RBI's digital and physical infrastructure by making it best-in-class and environment-friendly.
• Innovative, Dynamic and Skilled Human Resource: The objective of this vision statement is to improve the quality and capabilities of RBI's human resources by making them more innovative, dynamic and skilled.

Implementation and Progress Monitoring:

• The RBI attaches great importance to its medium-term strategy and monitors its implementation and progress through a sub-committee of its Central Board. This ensures that RBI is on track to achieve the milestones set in Utkarsh 2.0 and is able to adapt to changing circumstances as required.
• The RBI attaches great importance to its medium-term strategy and monitors its implementation and progress through a sub-committee of its Central Board. This ensures that RBI is on track to achieve the milestones set in Utkarsh 2.0 and is able to adapt to changing circumstances as required.

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About Reserve Bank of India:

The Reserve Bank of India is the central bank of India and was established under the Reserve Bank of India Act 1934. It began operations on April 1, 1935, and was nationalized in 1949, with the Government of India becoming its owner. 

RBI is responsible for regulating banks under the Banking Regulation Act of 1949 and Non-Banking Financial Companies (NBFCs) under the Reserve Bank of India Act of 1934. It is also the regulator of digital payment systems under the Payment and Settlement Act. 2007. The headquarters of the RBI is located in Mumbai, and the current governor is Shaktikanta Das.

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