Utkarsh-2022: Finalized by Board of RBI 10/07/2019 – Posted in: Daily News
UTKARSH 2022
The Reserve Bank of India board finalized a three- year roadmap to improve regulation and supervision of the central bank.
- Utkarsh-2022 is in line with the global central banks’ plan to strengthen the regulatory and supervisory mechanism.
- It is a three-year medium-term road map, which covers its mission and vision.
Objective
The idea is that the central bank plays a proactive role and takes preemptive action to avoid any crisis.
Is this a new concept?
- No. Worldwide, all central banks strengthen the regulatory and supervisory mechanism.
- Everybody is formulating a long-term and medium-term plan.
- So, the RBI has also decided to formulate a medium-term plan to outline what is to be achieved in the next three years.
Internal Committee
- An internal committee was formed, which was headed by Deputy Governor Viral Acharya.
- His task is to identify the issues that needed to be addressed over the next three years.
Source: The Hindu
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