Utkarsh Framework: RBI's Strategy for Excellence and Trust

What is it?

• Reserve Bank of India launched Utkarsh 2022 in July 2019—a three-year-medium term strategy to promote excellence in RBI’s mandates and to strengthen its trust in the citizens of India and other institutions.

• To strengthen regulation and supervision

• Formed under committee of Sh Viral Acharya

• Implementation of Utkarsh 2022 was steered by a high level Strategy Sub-Committee of the Bank’s Central Board of Directors

Now we have Utkarsh 2.0 (2023-25)

What is it?

• Harness strengths of Utkarsh 2022

• Has 60 strategies

• Has stated - With India’s G20 presidency during the period of Utkarsh 2.0, it confers a unique opportunity to showcase our accomplishments in the realm of digital payments and strive towards broad basing of acceptance of the Indian rupee in bilateral and multilateral trade.

Utkarsh 2.0 Vision

1. Excellence in performance of its functions;

2. Strengthened trust of citizens and Institutions in the RBI;

3. Enhanced relevance and significance in national and global roles;

4. Transparent, accountable and ethics-driven internal governance;

5. Best-in-class and environment-friendly digital and physical infrastructure; and

6. Innovative, dynamic and skilled human resources.

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