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RBI Visions - Banner with Breadcrumb

Career - Strategies for Implementation of the Vision

Strategies for Implementation of the Vision

RBI as an institution aims to excel in performance, strengthen trust of Citizens and other Institutions and enhance relevance and significance in National and Global roles.

RBI aims to achieve these by a transparent, accountable and ethical internal governance, best-in-class and environment friendly infrastructure combined with innovate, skilled and dynamic human resources.

Vision 1

Vision 1: Excellence in the Performance of its Functions

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

Vision 2: Strengthened Trust of Citizens and Institutions in the Reserve Bank of India

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

Vision 3: Enhanced Relevance and Significance in National and Global Roles

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

Vision 4: Transparent, Accountable and Ethics-Driven Internal Governance

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

Vision 5: Best-in-class and Environment-friendly Digital and Physical Infrastructure

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

Vision 6: Innovative, Dynamic, and Skilled Human Resources

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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