- The Reserve Bank of India (RBI) board has finalised a three year roadmap named as Utkarsh 2022.
- The objective of the policy is to improve regulation and supervision of the central bank.
- RBI has said that this strategy is in line with the global central banks decision to strengthen the regulatory and supervisory mechanism by formulating a long-term plan and a medium-term plan.
- The strategy will be that RBI will play a proactive role and takes preemptive action to avoid any crisis such as the IL&FS debt default issue and the crisis of confidence in the non-banking financial sector.
- Further,the board has also approved the RBI’s budget for the July 2019 to June 2020 period.Other matters discussed by the board included issues relating to currency management and payment systems.
