Categories: Banking

Launch of Utkarsh 2.0 – Reserve Bank of India’s Medium-term Strategy Framework

The Reserve Bank of India’s Medium-term Strategy Framework for the period 2023-2025 – ‘Utkarsh 2.0’ – was launched by Shri Shaktikanta Das, Governor, RBI. The first strategy framework (Utkarsh 2022) covering the period 2019-2022 was launched in July 2019. It became a medium-term strategy document guiding the Bank’s progress towards realisation of the identified milestones. Utkarsh 2.0 would allow the central bank to both react and act proactively to confront socio-economic challenges.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Significance of Utkarsh 2.0:

Utkarsh 2.0 harnesses the strengths of Utkarsh 2022 by retaining the six Vision statements as well as Core Purpose, Values, and Mission statement. Collectively, they create a strategic guiding path. The Vision in Utkarsh 2.0 that will guide the Reserve Bank of India over the period 2023-25 are:

  • Excellence in performance of its functions;
  • Strengthened trust of citizens and Institutions in the RBI;
  • Enhanced relevance and significance in national and global roles;
  • Transparent, accountable and ethics-driven internal governance;
  • Best-in-class and environment-friendly digital and physical infrastructure; and
  • Innovative, dynamic and skilled human resources.

Reserve Bank of India‘s Aim:

  • The RBI plans to leverage India’s Group of 20 presidency to showcase the country’s strength in digital payments, and broad-base the acceptance of the rupee in bilateral and multilateral trade as part of its strategy till 2025.
  • The central bank would also integrate artificial intelligence and machine learning-driven tools to enhance the reliability of its data analysis and information creation.

Utkarsh 2.0 Expected outcomes:

The desired outputs are proposed to be realised in terms of strategies calibrated through milestones. The Reserve Bank of India attaches high importance to its medium-term strategy and monitors its implementation and progress through a Sub-committee of its Central Board.

The Time-line of This Strategy Framework:

In July 2015, the central bank had launched a formal strategic management programme to provide a framework based on which its policies would be formulated. In 2019, it changed that to a medium-term strategy framework to keep up with emerging challenges in the economy.

Find More News Related to Banking

 

 

Piyush Shukla

Recent Posts

Ashwani Lohani Appointed Director of Prime Ministers Museum and Library

Ashwani Lohani, former Chairman and Managing Director of Air India and ex-Chairman of the Railway…

4 mins ago

International Day for the Fight against Illegal, Unreported and Unregulated (IUU) Fishing

June 5 marks the International Day for the Fight against Illegal, Unreported and Unregulated (IUU)…

10 mins ago

Why is the RBI changing gold loan rules?

On April 9, 2025, the Reserve Bank of India (RBI) released draft guidelines on loans…

14 mins ago

DBT Observes Swachhata Pakhwada 2025 with 188 Cleanliness Activities Across India

As part of the Government of India’s Swachh Bharat Mission, the Department of Biotechnology (DBT)…

21 mins ago

India Secures Presidency of IIAS for 2025–2028 Term

In a significant development for India’s global administrative leadership, India has been elected to the…

26 mins ago

Rajiv Gandhi Van Samvardhan Yojana Launched to Boost Green Cover in Himachal

In a major push for environmental conservation and community empowerment, Himachal Pradesh Chief Minister Sukhvinder…

33 mins ago