Utkarsh 2022 | 09 Jul 2019

The Reserve Bank of India (RBI) has finalised a three- year roadmap, named Utkarsh 2022 to improve regulation and supervision, among other functions of the central bank.

• Utkarsh 2022 is a medium term strategy in line with the global central banks’ plan to strengthen the regulatory and supervisory mechanism.
  
  • This specifically includes central bank’s proactive role to avoid any other IL&FS debt default issue in future.
• Earlier, an internal committee of RBI was formed under former Deputy Governor Viral Acharya, to identify issues that needed to be addressed over the next three years.
• The RBI board also approved the RBI’s budget for the July 2019—June 2020 period.