XI. Governance, Human Resources and Organisational Management - RBI - Reserve Bank of India
XI. Governance, Human Resources and Organisational Management
| The Reserve Bank continued with its endeavour to strengthen its human resources to develop a diverse set of capabilities in sync with the dynamically changing requirements through recruitment and capacity building programmes. The implementation status of milestones set for the year under Utkarsh1 2.0 was reviewed and the internal risk management and the internal audit mechanism in the Reserve Bank were strengthened further. XI.1 This chapter discusses key aspects of the Reserve Bank’s organisational functioning covering activities related to governance, human resource management, risk monitoring, corporate strategy and budgeting, internal audit, Rajbhasha and premises. It reviews the major developments during 2024-25, evaluates outcomes vis-à-vis the goals set at the beginning of the year and sets out priorities for 2025-26. XI.2 The Human Resource Management Department (HRMD) undertook several initiatives during 2024-25 to strengthen human resources along with building a conducive working environment through new recruitments, skill enhancement through in-house and external training programmes, refining mentoring policy (SABAL) and conducting regular townhall meetings (Vartalap) for employees, besides undertaking leadership development programme for senior management. To commemorate the 90th year of the Reserve Bank’s establishment, year-long events were organised during 2024-25, starting with the opening ceremony on April 1, 2024 inaugurated by the Hon’ble Prime Minister in Mumbai. The commemoration culminated with an event in Mumbai on April 1, 2025 with the Hon’ble President of India as the Chief Guest. XI.3 The Risk Monitoring Department (RMD) persisted with its efforts towards ensuring more comprehensive management of risks facing the Reserve Bank through introduction of new risk frameworks, strengthening of existing frameworks, and propagation of risk culture and risk awareness. The Reserve Bank was assigned the highest level of operational risk management maturity rating in an international peer group assessment. XI.4 During the year, the Inspection Department focused on strengthening the governance processes through risk-based internal audit (RBIA) framework. The Department fine-tuned the existing RBIA framework and calibrated the risk scoring methodology. Notably, the Department integrated all audits into the Audit Management System (AMS) a year ahead of its planned schedule of 2025-26. XI.5 The Corporate Strategy and Budget Department (CSBD) conducted the triennial review of time-sensitive critical activities (TSCAs) of the Reserve Bank. The Department also carried out the mid-term review of Utkarsh 2.0 and updated the rating framework for budgeting units. XI.6 The Rajbhasha Department ensured compliance of various statutory requirements under the Official Language Policy and other instructions issued by the Government of India (GoI). It prioritised bilingualisation of the Reserve Bank’s publications on its website, and further efforts were made to promote the original writings in Hindi through its flagship publications, viz., ‘Kriti-Anukriti’ (within RBI) and ‘Banking Chintan-Anuchintan’ (for financial institutions). XI.7 The Premises Department pursued its mandate of creating, maintaining, and upgrading the Reserve Bank’s infrastructure while integrating architectural excellence with environmental priorities. The Department continued its efforts towards generating renewable energy through installation of solar power plants at various offices and residential colonies. XI.8 This chapter is organised into nine sections. The developments relating to the governance structure of the Reserve Bank are set out in section 2. Section 3 outlines the initiatives undertaken by the HRMD during the year in the areas of human resource management and development. The progress on enterprise-wide risk management framework is presented in section 4. The activities of the Inspection Department and the CSBD are discussed in sections 5 and 6, respectively. The activities and accomplishments of the Rajbhasha and Premises departments are presented in sections 7 and 8, respectively, with concluding observations in section 9. XI.9 The Central Board of Directors is entrusted with the governance of the Reserve Bank in accordance with the Reserve Bank of India (RBI) Act, 1934. It comprises the Governor as the Chairperson, Deputy Governors and Directors nominated by the Central Government. In accordance with the RBI Act, the Central Government also appoints members for four Local Boards to advise the Central Board on matters referred to them by the Board. XI.10 The Central Board is assisted by three Committees: the Committee of the Central Board (CCB); the Board for Financial Supervision (BFS); and the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS). These Committees are headed by the Governor. In addition, the Central Board has five Sub-Committees each headed by a non-official Director: the Audit and Risk Management Sub-Committee (ARMS); the Human Resource Management Sub-Committee (HRM-SC); the Building Sub-Committee (B-SC); the Information Technology Sub-Committee (IT-SC); and the Strategy Sub-Committee (S-SC). Central Board, CCB and Local Boards XI.11 During 2024-25, the Central Board held seven meetings. The CCB held 45 meetings, of which 33 were held as e-meetings and 12 in person. The CCB attends to the current business of the Reserve Bank, including approval of its Weekly Statement of Affairs. XI.12 During 2024-25, a Standing Committee of the Central Board, consisting of two non-official Directors, functioned in lieu of the Northern, Western, Eastern and Southern Area Local Boards. The Standing Committee held two meetings each for the Northern, Western, Eastern and Southern Areas (Annex Tables XI.1-4). XI.13 Shri Shaktikanta Das relinquished charge as Governor, Reserve Bank of India on December 10, 2024 on completion of his tenure and the Central Government appointed Shri Sanjay Malhotra, Secretary, Department of Revenue, Ministry of Finance, Government of India as Governor, Reserve Bank of India for a period of three years from December 11, 2024 under Section 8(1)(a) of the Reserve Bank of India Act, 1934. XI.14 The Central Government re-appointed Shri M. Rajeshwar Rao as Deputy Governor, Reserve Bank of India for a further period of one year with effect from October 9, 2024 or until further orders, whichever is earlier. XI.15 Dr. Michael Debabrata Patra relinquished charge as Deputy Governor, Reserve Bank of India on completion of his tenure on January 14, 2025. XI.16 The Central Government appointed Dr. Poonam Gupta, Director General, National Council of Applied Economic Research, New Delhi, as Deputy Governor, Reserve Bank of India, for a period of three years from the date of joining the post or until further orders, whichever is earlier. Dr. Poonam Gupta assumed office on May 2, 2025. XI.17 The Central Government re-appointed Shri T. Rabi Sankar as Deputy Governor, Reserve Bank of India for a further period of one year with effect from May 3, 2025 or until further orders, whichever is earlier. XI.18 The Central Government nominated Shri Nagaraju Maddirala, Secretary, Department of Financial Services, Ministry of Finance, Government of India as Director on the Central Board of Reserve Bank of India under Section 8(1)(d) of Reserve Bank of India Act, 1934 with effect from August 30, 2024 and until further orders vice Dr. Vivek Joshi. Executive Directors XI.19 Executive Director Shri Deepak Kumar voluntarily retired on April 30, 2024. Executive Director Shri R. Subramanian superannuated on May 31, 2024; Shri Saurav Sinha on June 28, 2024; Shri Manoranjan Mishra on September 30, 2024; Dr. O.P. Mall and Shri Muneesh Kapur on February 28, 2025. Shri R. Lakshmi Kanth Rao was promoted as Executive Director on May 9, 2024; Shri Arnab Kumar Chowdhury on June 3, 2024; Smt. Charulatha S. Kar on July 1, 2024; Shri Aviral Jain on October 1, 2024; Dr. Ajit Ratnakar Joshi on March 3, 2025 and Shri Indranil Bhattacharyya on March 19, 2025. 3. HUMAN RESOURCE DEVELOPMENT INITIATIVES XI.20 The Reserve Bank has a wide canvas of operations, requiring diversified skills and a robust set of internal capabilities to fulfil its mandate. During the year, the Department remained focused on upscaling the skillset through recruitment and training, including e-learning. Agenda for 2024-25 XI.21 The Department had set out the following goals for 2024-25:
Implementation Status XI.22 A review and redesign of the Vision Document for Sports has been initiated. XI.23 The design of the DCW framework is being strengthened to align it with the performance management system and the process is underway. XI.24 The Reserve Bank commemorated the 90th year of its establishment during 2024-25 with year-long events and activities reflecting on the Reserve Bank’s legacy of nine decades (RBI@90), while looking ahead towards strategies for the coming decade (RBI@100). Major Developments In-house Training XI.25 The Reserve Bank prioritises continuous skill advancement and strengthening of human resource capabilities. The training establishments (TEs) of the Reserve Bank, viz., Reserve Bank Staff College (RBSC) at Chennai; College of Agricultural Banking (CAB) at Pune; College of Supervisors (CoS) at Mumbai; Enterprise Computing and Cybersecurity Training Institute (ECCTI) at Bhubaneswar; and four Zonal Training Centres (ZTCs) at Mumbai (Belapur), New Delhi, Kolkata and Chennai help attain this objective. The Reserve Bank’s training infrastructure remains dedicated to fostering both technical and behavioural skills of its employees, with a focus on enhancing their overall efficiency and effectiveness. The programmes offered by the institutions are in the nature of training, workshops, seminars and conferences (Table XI.1). The Reserve Bank undertook two key measures, viz., a leadership development programme for the senior management; and training of in-house counsellors under the employee assistance programme meant for mental health and employee well-being, who can act as first point of contact in case of any distress. XI.26 During the year, the Reserve Bank laid emphasis on the mentoring of officers in junior and middle management by strengthening its mentoring policy (SABAL) and conducted orientation sessions for mentees and specialised workshops for mentors to set the tone for the redesigned mentoring policy. Training at External Institutions XI.27 The Reserve Bank nominated 1,133 officers for training programmes, seminars and conferences conducted in India and abroad, through both online and offline modes, during 2024-25 (Table XI.2). Class III and IV employees were also deputed for training in external institutions in India. Study Schemes XI.28 A total of seven officers availed study leave scheme for pursuing higher studies, of which, three officers are pursuing higher studies overseas. Further, eight officers were selected for the Golden Jubilee Scholarship Awards 2024 for pursuing courses abroad. Other Initiatives Grants and Endowments XI.29 As a part of its mission to promote research, training and consultancy in the banking and financial sector, the Reserve Bank provided financial support amounting to ₹27.03 crore to the Indira Gandhi Institute of Development Research (IGIDR), Mumbai; ₹12.86 crore to the Centre for Advanced Financial Research and Learning (CAFRAL), Mumbai; ₹2.77 crore to National Institute of Bank Management (NIBM), Pune; ₹0.84 crore to the Indian Institute of Bank Management (IIBM), Guwahati and ₹0.83 crore to the London School of Economics (LSE) India Observatory and the IG Patel Chair. Industrial Relations XI.30 Industrial relations in the Reserve Bank remained cordial during the year. During 2024-25, HRMD, CO, held 21 meetings with central units of recognised Unions/Associations on various matters related to service conditions and welfare measures for employees. As per the extant instructions, regional offices (ROs) also held meetings with local units of recognised trade unions at quarterly/half-yearly intervals. Interface with Employees XI.31 The Reserve Bank sustained its efforts towards developing a continuous listening culture with a view to involve employees, harness their ideas and feedback, and achieve the organisation’s purposes and goals. VOICE (Voicing Opinion to Inspire, Contribute and Excel) is one such initiative which provides a platform for employees to interact with the Department. During 2024-25, the Reserve Bank conducted 6 VOICE sessions, covering 127 participants from various ROs and central office departments (CODs). Similarly, the Reserve Bank’s townhall meeting initiative (Vartalap) has been fruitful in nurturing a listening-oriented organisational culture and promoting better employer-employee relationship. Recruitment and Staff Strength XI.32 During 2024 (January-December), the Reserve Bank recruited a total of 604 employees in various cadres (Table XI.3). XI.33 The total staff strength of the Reserve Bank as on December 31, 2024 was 13,520, an increase of 0.2 per cent over end-December 2023 (Table XI.4). XI.34 The total strength of ex-servicemen in the Reserve Bank stood at 1,087 as on December 31, 2024 while the total number of differently abled employees stood at 326 (Table XI.5). During January-December, 2024, two ex-servicemen and 20 persons with benchmark disabilities (PwBD) were recruited in the Reserve Bank. XI.35 During 2024 (January-December), three meetings were held between the management and representatives of the All-India Reserve Bank Scheduled Castes (SCs)/Scheduled Tribes (STs) and the Buddhist Employees’ Federation to discuss issues pertaining to implementation of the reservation policy in the Reserve Bank based on the Government of India’s guidelines. One meeting was also held with the representatives of All-India Reserve Bank Other Backward Classes Employees’ Welfare Association. Prevention of Sexual Harassment of Women at the Workplace XI.36 The grievance redressal mechanism in the Reserve Bank for prevention of sexual harassment of women at the workplace is governed by comprehensive set of guidelines issued in 2014-15 in accordance with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act and Rules, 2013. During 2024-25, nine complaints were received, and eight cases have been disposed of. Several awareness programmes on the subject were organised at various regional offices (ROs) and the Central Office for sensitising the staff, including the newly recruited employees. Right to Information (RTI) XI.37 During 2024-25, the Reserve Bank received 21,043 requests for information and 1,764 appeals under the RTI Act. 11 training programmes and 134 sessions on RTI Act were also conducted. Commemoration of the 90th Year of the RBI (RBI@90) XI.38 The Reserve Bank commemorated the 90th year of its establishment during 2024-25 with year-long events and activities reflecting on the Reserve Bank’s legacy of nine decades (RBI@90), while looking ahead towards strategies for the coming decade (RBI@100). XI.39 The commemoration was launched with an opening ceremony graced by the Hon’ble Prime Minister of India as the Chief Guest in Mumbai on April 1, 2024. A commemorative coin was released by the Hon’ble Prime Minister to mark RBI@90. As part of year-long events and activities, several marquee events were organised such as global conferences2, national level events3 and various activities4 organised by ROs. The closing ceremony was held in Mumbai on April 1, 2025, with the Hon’ble President of India as the Chief Guest. A short film on events during RBI@90 was showcased and a Customised My Stamp marking this milestone was released by the Hon’ble President during the ceremony. Vigilance-related Activities in the Reserve Bank XI.40 The Reserve Bank’s vigilance unit is under the overall charge of the Chief Vigilance Officer (CVO) and is organised on a two-tier basis with the Central Vigilance Cell (CV Cell) functioning at the Central Office and 52 branch vigilance units. The overall responsibility in respect of the vigilance work in the Reserve Bank vests with the CV Cell, which exercises its jurisdiction over all employees of the Reserve Bank and coordinates the activities of the branch vigilance units. The CV Cell also maintains liaison with the Central Vigilance Commission (CVC) and the Central Bureau of lnvestigation (CBl). The activities/functions of the CV Cell are as under:
Agenda for 2025-26 XI.41 The roadmap for the year would include the following milestones for the Department:
4. ENTERPRISE-WIDE RISK MANAGEMENT XI.42 The RMD forms the second line of defence5 in the three-tier internal risk management framework adopted by the Reserve Bank and is responsible for the formulation and operationalisation of the enterprise-wide risk management (ERM) framework. XI.43 The Reserve Bank of India had adopted the extant Economic Capital Framework (ECF) in August 2019 based on the recommendations of the ‘Expert Committee to Review the Extant Economic Capital Framework of the Reserve Bank of India’, under the Chairmanship of Dr. Bimal Jalan. The Committee had recommended that the framework may be periodically reviewed every five years. In line with the Committee’s recommendation, the Reserve Bank has undertaken a comprehensive internal review of the extant framework (Box XI.1). Agenda for 2024-25 XI.44 The Department had set out the following goals for 2024-25:
Implementation Status XI.45 A harmonisation exercise was conducted wherein RTLs of all BAs were analysed to identify common/similar processes, and uniform tolerance limits were articulated for these processes, with the approval of the Risk Monitoring Committee (RMC). XI.46 Revision of IS policy, 2022 of the Reserve Bank was carried out to provide necessary guidance to suit rapidly evolving technological adoption such as AI, application programming interface (API), open-source software, analytics and governance requirements. XI.47 The framework for balance sheet stress testing using scenarios based on simultaneous movement in exchange rates and interest rates has been put in place. XI.48 A benchmarking exercise of the Reserve Bank’s ERM framework and practices vis-à-vis the global best practices in risk management revealed that it was majorly in conformity with the international guidelines and globally accepted risk practices. The recommendations for strengthening the risk management framework, which emanated from the exercise, have been incorporated in the ERM 2.0 framework. XI.49 Emerging risk scanning framework has been developed to identify and assess emerging risks in the Reserve Bank. An internal working group has been formed with the objective of providing inputs on the emerging risks and operationalisation of the framework. Other Initiatives The Reserve Bank’s ERM Framework XI.50 The ERM framework adopted by the Reserve Bank in 2012 for an integrated and holistic approach towards internal risk management has been fine-tuned over time and it has facilitated in building a robust architecture for risk management in the Reserve Bank (Box XI.2).
Risk Awareness Week (RAW) XI.51 The first edition of the RAW was organised in the Reserve Bank during April 22-26, 2024, with the objective of propagation of risk awareness and fostering of risk culture in the Reserve Bank as part of the larger organisational framework of risk awareness programmes. The initiative has enabled the Department to actively reach out to employees and convey the message of risk awareness and risk culture. Going forward, the RAW is planned to be held annually. Agenda for 2025-26 XI.52 For 2025-26, the following goals have been proposed for the Department:
5. INTERNAL AUDIT / INSPECTION XI.53 The Inspection Department of the Reserve Bank examines, evaluates and reports on internal control and governance processes and provides risk assurance to the top management and the Central Board through RBIA framework. Thus, the Department acts as the third line of defence (viz., risk assurance) under ERM function in the Reserve Bank and reports to Audit and Risk Management Sub-Committee (ARMS) of the Central Board. The Department also oversees the functioning of the concurrent audit (CA) system and control self-assessment audit (CSAA) in the Reserve Bank. The Department acts as the Secretariat to the ARMS of the Central Board and also to the Executive Directors’ Committee (EDC) in overseeing the internal audit function. Further, Zonal Inspectorates (ZIs) in five zones help the Auditee Offices (AOs) in strengthening the internal control system in the Reserve Bank, by ensuring quality of compliance of various audits and assist the Department in fulfilling its mandate of providing an independent and objective risk assurance to the top management on the operations of the various Business Areas of the Reserve Bank. Agenda for 2024-25 XI.54 The Department had set out the following goals for 2024-25:
Implementation Status XI.55 Based on ‘core’ and ‘criticality’ of the operations undertaken by the auditee units, engagement matrix has been made operational and the risk scoring methodology has also been calibrated. XI.56 A study on working of the ZIs along with evaluating their role in strengthening the internal control mechanism was conducted and placed before the EDC and ARMS of the Central Board. Subsequently, revised guidelines were issued. XI.57 A thematic study on efficacy and efficiency of CSAA was conducted and submitted to the top management. Subsequently, revised instructions on CSAA were issued. Major Development XI.58 The Department achieved the task of integrating all audits conducted by the Department into the AMS a year ahead of its schedule during 2024-25 (Box XI.3). Agenda for 2025-26 XI.59 During the year, the Department will focus on the following goals:
6. CORPORATE STRATEGY AND BUDGET MANAGEMENT XI.60 The CSBD coordinates and formulates the Reserve Bank’s medium-term strategy framework (Utkarsh), prepares its annual budget, and monitors its expenditure with a view to ensuring budgetary discipline. The Department also formulates and executes the Reserve Bank’s business continuity plan (BCP) for its critical operations and acts as the nodal Department for four institutes funded by the Reserve Bank. It also maintains various superannuation and staff welfare funds. Agenda for 2024-25 XI.61 For 2024-25, the Department had set out the following goals:
Implementation Status XI.62 The triennial review of TSCAs of the Reserve Bank was done by carrying out a business impact analysis of its critical functions. The TSCAs were finalised by the Business Continuity Committee and approved by the Risk Monitoring Committee of the Reserve Bank. XI.63 A review of the BCM systems in the Reserve Bank was undertaken. To reap the benefits of digitising the BCM processes and system, the Department has initiated the work towards development of a dashboard that would provide real time alerts during disaster/crisis, for carrying out the critical activities as per the extant standard operating procedures (SOPs). XI.64 A mid-term review of Utkarsh 2.0 was completed. Rating framework for budgeting units was reviewed, and the updated rating framework was issued. New facilities for budget management were provided for the budgeting units in the budget module of e-Kuber system. Major Developments XI.65 Out of 150 milestones of Utkarsh 2.0 due for completion as on March 31, 2025, 118 milestones (78.7 per cent) were completed, and the remaining 32 milestones (21.3 per cent) were under various stages of implementation. In addition, 6 milestones were completed ahead of their schedule on March 31, 2025. New facilities were also brought in the ‘Utkarsh’ portal enabling better monitoring of achievement of milestones. XI.66 CSBD, being the nodal Department for BCM framework of the Reserve Bank, plays a key role in ensuring the smooth working of critical systems and business processes in the Reserve Bank. The business continuity framework was strengthened by carrying out review of TSCAs, assessing disaster recovery (DR) drills and performance of various business units of the Reserve Bank. XI.67 The Department continued to reinforce governance of all four institutes funded by the Reserve Bank, viz., CAFRAL, IGIDR, IIBM and NIBM through meetings of their governing boards and sub-committees, quarterly monitoring of major developments, and implementing the recommendations of their review Committees. During the year, the governance structure of CAFRAL was streamlined further by constituting sub-committees to advise on learning activities and financial matters. XI.68 Various IT initiatives were taken by the Department towards streamlining the modules in its existing core banking solution (e-Kuber) for automated workflow and generation of management information system (MIS) reports. XI.69 To create awareness on strategy, business continuity, and budget guidelines of the Reserve Bank, workshops and awareness programmes were conducted for the staff at various locations, including TEs. Agenda for 2025-26 XI.70 The Department’s agenda for the year includes the following:
XI.71 The Rajbhasha Department functions as the nodal Department for implementing the Official Language Policy within the Reserve Bank. By devising a comprehensive action plan and establishing a robust monitoring mechanism, the Department has ensured the progressive use of Hindi in the Reserve Bank along with compliance of the provisions of the Official Language Act, 1963; Rajbhasha Rules, 1976; directives issued by the President of India and instructions of the GoI; and the Committee of Parliament on Official Language. Through targeted initiatives such as Hindi training programmes, lectures and incentive schemes, the Department has actively fostered the propagation of Hindi while cultivating an environment conducive to its widespread usage. Agenda for 2024-25 XI.72 The Department had set out the following goals for the year:
Implementation Status XI.73 A total of 145 additional sections were specified for carrying out entire work in Hindi vis-à-vis the target of 120 sections. During the year, a total of 298 additional staff members have received Parangat training. XI.74 A special programme for the Regional Directors/CGMs/Officers-in-Charge on inspection questionnaire of Hon’ble Committee of Parliament on Official Language was organised at Pench, Madhya Pradesh during September 22-23, 2024, in which 23 Regional Directors and Officers-in-Charge participated from various ROs and CODs. Programmes to impart Hindi training to the members of faculty of CAB, Pune and RBSC, Chennai were organised on August 16, 2024 and August 20, 2024, respectively. XI.75 Under the aegis of RBI@90, debate competitions on economic, banking and financial topics for officers of ROs and CODs were organised. A total of 129 additional staff members acquired working knowledge of Hindi during the year, including newly recruited staff. A training programme related to various Rajbhasha inspections for Rajbhasha officers was organised at CAB, Pune during July 18-19, 2024. Two Faculty Development Programmes were organised for Rajbhasha officers at CAB, Pune during February 10-12, 2025 and February 27 - March 1, 2025. Major Developments Visits by Hon’ble Committee of Parliament on Official Language in the Reserve Bank XI.76 The Hon’ble Committee of Parliament on Official Language inspected the Hyderabad office of the Reserve Bank on October 23, 2024. Training/Conference XI.77 In order to cater to the needs of different segments of the Reserve Bank staff, various training programmes were conducted throughout the year. Rajbhasha conference and Heerak Jayanti function was organised at Rajgir, Bihar during January 31-February 1, 2025. Publications XI.78 The Department’s half-yearly magazine, ‘Kriti-Anukriti’, served as a platform to highlight Rajbhasha related key activities and initiatives taken in various CODs, ROs and TEs. Featuring the contemporary issues in Banking and Finance, two editions of the Hindi journal ‘Banking Chintan-Anuchintan’ were published. Commemorating the 90th Year of the Reserve Bank XI.79 Under the aegis of RBI@90, a national level debate competition was held on December 23, 2024, featuring winners from the zonal/cluster-level competitions. Agenda for 2025-26 XI.80 During the year, the Department plans to focus on the following:
XI.81 The vision of the Premises Department is to provide ‘best in class’ and environment-friendly physical infrastructure by integrating architectural excellence and aesthetic appeal with green ratings in the Reserve Bank’s premises while ensuring the highest level of cleanliness. Agenda for 2024-25 XI.82 For 2024-25, the Department had set out the following goals:
Implementation Status XI.83 As against the goal for obtaining relevant green rating from IGBC/GRIHA6 for at least 9 office buildings and 16 residential buildings by December 2025, green rating has already been received for 11 office buildings and 13 residential buildings up to December 2024. As against the target of achieving power consumption from renewable sources at 7 per cent of consumption by December 2024 (base year June 2018), 8.3 per cent has been achieved across all office premises till December 2024. Moreover, the Reserve Bank has achieved energy savings of 10.4 per cent till December 2024 as against the target of 6.5 per cent set for period ending December 2024 (base year June 2018). XI.84 The construction of office building at Raipur is at an advanced stage and expected to be completed shortly. Various other construction projects have also been taken forward for a timely completion. Major Development XI.85 The Reserve Bank has been generating renewable energy through solar power plants installed at various offices and residential colonies. As at end-March 2025, 29 office premises and 61 residential premises have solar power plants with power generation capacity at 4,650 kWp (Kilowatt-peak). Other Initiatives XI.86 The Department is exploring to avail project management consultancy (PMC) services from various central public-sector undertakings (CPSUs) under different categories. XI.87 The Department has been prioritising skill enhancement of the staff of estate departments through targeted training programmes on various functional aspects covering fixed asset policy, e-tendering through MSTC portal, procurement through Government e-Marketplace (GeM) portal, centralised insurance of assets, familiarisation and training programmes for smooth implementation of enterprise project management software. XI.88 The Department has revised policy on disposal of surplus property and procurement policy. The GREEN7 data platform has been further strengthened by adding a new module of submission of monthly information from ROs. Further, a project dashboard named ‘Pari-Drishti’ has been developed as a part of improvement in MIS. Agenda for 2025-26 XI.89 For the year 2025-26, the Department has set the following goals:
XI.90 The Reserve Bank commemorated the 90th year of its establishment through year-long events and activities. Human resources were strengthened through new recruitments and trainings along with efforts towards promoting greater harmony between employer and employees. The Reserve Bank enhanced its internal risk management by further strengthening the ERM, RBIA and business continuity frameworks. Rajbhasha Department ensured compliance with the statutory provisions of the Official Languages Act of the GoI, while the Premises Department continued with its efforts to provide environment friendly physical infrastructure. Annex
1 Utkarsh is the Reserve Bank’s medium-term strategy framework, in line with the evolving macroeconomic environment, to achieve excellence in the performance of Reserve Bank’s mandates and strengthening the trust of citizens and other institutions. Utkarsh 2.0 covers the period January 2023 to December 2025, while those under Utkarsh 1.0 were for the period June 2019 to December 2022. 2 Include “Digital Public Infrastructure (DPI) and Emerging Technologies” (August 26-27, 2024, Bengaluru) with participations from central bank Governors, senior government officials, banking and NBFC leadership, IT firms, payment system operators (PSOs), FinTech entities and academia, among others; High-Level conference on the theme “Central Banking at Cross-roads” (October 14, 2024, New Delhi) which brought together leading central bankers, experts from multilateral financial institutions, leading policymakers, academia, heads of major domestic banks, economists and financial market participants; and High-Level policy conference of central banks in the Global South (November 21-22, 2024, Mumbai) with delegates from 18 countries, including central bank Governors, Deputy Governors and other central bank officials from the Global South. 3 Include quiz on general knowledge and awareness for undergraduate students pursuing bachelor’s degree courses across all streams; art competition for fine art students in India, with focus on themes associated with the Reserve Bank (October 22, 2024, RBI New Delhi office) with participation from students of 71 colleges across the country; a panel discussion on the evolution of Indian art, influence of social media on art, future of traditional painting forms with advent of digital tools and artificial intelligence, impact of globalisation, art fairs, biennales, etc.; and inter-institutional tournaments at an all-India level (viz., football at Kolkata during August 3-10, 2024; cricket at Jaipur during September 21-28, 2024; table tennis at Chandigarh during November 24-29, 2024; and badminton tournament at Bengaluru during January 2-5, 2025). 4 Include townhall for RBI employees, talks by eminent personalities, art competition and activities to promote the use of Rajbhasha, tree plantation drives (245 plantation drives, 16,205 saplings planted during the year), and blood donation camps (45 blood donation camps across the offices of the Reserve Bank and residential colonies during the year with participation from about 2,237 employees and their family members). 5 Individual business areas form the first line of defence and are primarily responsible for the identification and management of risks emanating from their respective areas of functioning, while the second line of defence is the RMD, which performs the centralised risk monitoring function, and the third line of defence is the Inspection Department, which through the inspection and audit process, performs the role of risk assurance. 6 Indian Green Building Council (IGBC)/Green Rating for Integrated Habitat Assessment (GRIHA). 7 A web-based platform named GREEN (Generation of Renewable Energy, Energy Conservation and Neer Conservation) has been developed for consolidation and analysis of data and information on other green initiatives and energy/water audit received from the ROs with an aim to improve energy efficiency/conservation. |
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