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What is Utkarsh 2.0 – RBI’s Medium-term Strategy Framework?

Reserve Bank of India (RBI) has launched ‘Utkarsh 2.0’ – Medium-term Strategy Framework for the period 2023-2025.

What is Utkarsh?

Reserve Bank of India (RBI) had launched ‘Utkarsh 2022’ – RBI’s Medium-term Strategy Framework for the period 2019-2022 in July 2019.

The strategic framework contained, inter alia, RBI’s Mission, Core Purpose, Values and Vision Statements, reiterating RBI’s commitment to the Nation. It became a medium-term strategy document guiding RBI’s progress towards realisation of the identified milestones.

What is Utkarsh 2.0?

RBI’s Medium-term Strategy Framework for the period 2023-2025 – ‘Utkarsh 2.0’ – has been launched in December 2022.

Utkarsh 2.0 harnesses the strengths of Utkarsh 2022 by retaining the six Vision statements as well as Core Purpose, Values, and Mission statement. 

The Vision in Utkarsh 2.0 that will guide RBI over the period 2023-2025 are –

  1. Excellence in performance of its functions.
  2. Strengthened trust of citizens and Institutions in 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.
  6. Innovative, dynamic and skilled human resources.

The desired outputs are proposed to be realised in terms of strategies calibrated through milestones.

RBI attaches high importance to its medium-term strategy and monitors its implementation and progress through a Sub-committee of its Central Board.


References

Reserve Bank of India. (2019, July 23). 'Launch of Utkarsh 2022 – Reserve Bank of India’s Medium-term Strategy Framework'. Retrieved from https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=47677

Reserve Bank of India. (2022, December 30). 'Launch of Utkarsh 2.0 – Reserve Bank of India’s Medium-term Strategy Framework'. Retrieved from https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=54970

Reserve Bank of India. (2022, December 30). 'Utkarsh 2.0 - Medium-term Strategy Framework (2023-25). Retrieved from https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=54970


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