RBI finalizes a 3- year roadmap — named Utkarsh 2022

The board of Reserve Bank of India (RBI) has finalized a 3- year roadmap — named Utkarsh 2022 — to improve regulation and supervision of the central bank. This medium term strategy is 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. The RBI board also approved the RBI’s budget for the July 2019—June 2020 period.