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RBI’s Utkarsh 2.0 places focus on better service
MUMBAI: The Reserve Bank of India (RBI) has released a medium-term strategy framework called Utkarsh 2.0 to highlight multiple strategy pillars: Regulations, customer centricity, inclusive finance, competitive markets, effective technology, a future-ready organization and global India focus.
The framework will focus on simplifying regulations, deepening financial markets and increasing accessibility, while prioritizing digitalization and innovation in its operations, the RBI said.
The plan emphasizes improving customer service and financial inclusion, along with efforts to strengthen market infrastructure and pricing transparency, particularly in government bonds. Technology adoption, including artificial intelligence and digitalization of internal processes, is expected to play a central role.
At the corporate level, the RBI aims to expand India’s global financial footprint.
The framework will focus on simplifying regulations, deepening financial markets and increasing accessibility, while prioritizing digitalization and innovation in its operations, the RBI said.
The plan emphasizes improving customer service and financial inclusion, along with efforts to strengthen market infrastructure and pricing transparency, particularly in government bonds. Technology adoption, including artificial intelligence and digitalization of internal processes, is expected to play a central role.
At the corporate level, the RBI aims to expand India’s global financial footprint.
This includes supporting the internationalization of the rupee and scaling cross-border payment systems such as UPI. The central bank said progress under the framework will be monitored periodically, with flexibility to adapt to changing financial conditions.
