RBIs Core Purpose Values and Mission - RBI - Reserve Bank of India
Vision 1: Excellence in the Performance of its Functions
Strategies for Implementation of Vision Statement
- Revamping currency management through (i) efficiency in procurement and distribution; (ii) high quality currency notes; (iii) research and development
- Robust execution of the reserve management function
- Enhancing standards of research and publications for policy purposes
- Enhancing efficiency and automation of the ‘Banker to Government’ function
- Resilient financial intermediation - Creating the ecosystem and refining the regulatory framework
- Rationalise and Simplify Regulations pertaining to banks and non-banks
- Convergence - prudential regulations with international standards
- Align – Know Your Customer instructions with Financial Action Task Force
- Create a resilient financial intermediation ecosystem; refining the regulatory and supervisory framework for its robust and strong sustenance
- Strengthening resilience, integrity and efficiency of our financial market infrastructures with focus on deepening digital payments
- Enriching the Bank's policies and functions through statistical analysis, forward looking surveys, information management and ‘state-of-the-art’ data-intensive policy research
- Review of the regulatory architecture under FEMA, 1999 to simplify regulatory compliance and improve ease of doing business
- Promoting Internationalisation of Rupee through review of regulations under Foreign Exchange Management Act, 1999
- Creating a resilient financial intermediation ecosystem; refining the financial inclusion framework for its robust and strong sustenance
- Developing an appropriate framework for managing FinTech ecosystem in the country
- Phased introduction of Central Bank Digital Currency
- Adoption of emerging SupTech solutions for effective supervision and efficient implementation of regulations
- Facilitation in development of RegTech solutions for Regulated Entities
- Ensuring robustness and resilience of Bank-regulated financial markets and Bank's liquidity management framework
- Strengthening the resilience and efficiency of the financial markets and market infrastructure
- Creating and monitoring resilient ecosystem for financial stability
- Enhancing the effectiveness of public debt management
- Broadening and widening the Government Securities market in India
- Strengthening the monetary policy framework and operating procedure
Vision 2: Strengthened Trust of Citizens and Institutions in the Reserve Bank of India
Strategies for Implementation of Vision Statement
- Expanding the Bank's footprints across the country
- Sustain continued availability of consumer-friendly financial services, efficient alternate grievance redress mechanism and enhanced consumer awareness
- Obtaining feedback and impact assessment of the Bank’s public awareness initiatives
- Better information to public through contemporary and accessible RBI Website
- Increasing public awareness and engagement
- Adopting a ‘less paper’ and virtual workflow for external stakeholders
- Facilitate improvement in compliance culture among the Regulated Entities
- Ensuring sound and comprehensive internal and external RBI policies
Vision 3: Enhanced Relevance and Significance in National and Global Roles
Strategies for Implementation of Vision Statement
- Enhancing the Internationalisation of INR through Asian Clearing Union mechanism
- Enhance Bank’s brand equity in other jurisdictions
- Intensifying the Bank's international financial engagements
Vision 4: Transparent, Accountable and Ethics-Driven Internal Governance
Strategies for Implementation of Vision Statement
- Strengthening corporate strategy, budget management and business continuity framework
- Enabling uniform understanding of rules and regulations to improve compliance
- Greater convergence in risk assessment done by the audit and risk functions
- Leveraging of Audit Management and Risk Monitoring System Application for effective risk assurance
- Comprehensive and robust Reserve Bank Internal Audit
- Comprehensive coverage of various audits in Audit Management and Risk Monitoring System
- Complete review and revamping of internal processes related to construction projects
- Aligning Cyber Security controls with global best practices
- Assessment of Liquidity Risk of the Bank
- Assessment of Emerging Risks in the Bank
- Fostering of Risk culture in the Bank
- Adopting international best practices of Enterprise Risk Management
- Periodic review of aspects of internal governance
Vision 5: Best-in-class and Environment-friendly Digital and Physical Infrastructure
Strategies for Implementation of Vision Statement
- Building sustainable Information and Communication Technology infrastructure, adapting to emerging technologies through implementation of NextGen applications with focus on resilience, reliability, security; and Upgradation of existing applications / infrastructure to enhance accessibility, usability and inclusion
- Enabling ease of doing business with respect to Human Resources (HR) processes
- Automating processes, achieving integration of information, and ensuring dissemination through a robust Information Technology system, based on the best environment-friendly practices
- Integrating architectural excellence and aesthetic appeal with green ratings in the Bank’s premises while ensuring the highest level of cleanliness and physical security
Vision 6: Innovative, Dynamic, and Skilled Human Resources
Strategies for Implementation of Vision Statement
- Re-skilling and leveraging on technology for building dynamic human resources
- Using technology and data analytics in promoting research-based decision making by the workforce
- Building a proficient and facilitative employee interface for effective communication, positive workplace experience, and enhanced employee engagement
- Establishing a listening-oriented organisational culture to promote better employer-employee relationship
- In-house counselling facility for employees
- Capacity building through a robust online training mechanism developed with the help of the Bank’s training establishments and focused on continuous learning
- Enhance and update the vocabulary for the users of banking glossary in view of the emerging new age banking ecosystem
- Promote the Use of राजभाषा
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Page Last Updated on: May 21, 2023
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