RBI Launches Utkarsh 2029 Strategy: 6 Key Pillars to Transform India’s Banking System

The Reserve Bank of India (RBI) has launched its Medium-term Strategy Framework Utkarsh 2029 for the period April 2026 to March 2029. The Reserve Bank of India had adopted the Medium-term Strategy Framework (Utkarsh 2.0) covering the period 2023-2025 in December 2022. The purpose of Utkarsh is to achieve the identified milestones.

Earlier, the RBI had annual action plans to formulate policies to achieve the goals. The Reserve Bank of India formulated Utkarsh 2022 in July 2019, replacing its annual action plans.

Utkarsh 2029 has 6 pillars to transform the institutional purpose into actionable excellence:

1. Global India
2. Robust Regulations
3. Customer Centricity and Inclusive Finance
4. Competitive Markets
5. Effective Technology
6. Future-ready Organisation

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