Money & Banking

RBI re-articulates its core purpose

Our Bureau Mumbai | Updated on April 09, 2015 Published on April 09, 2015




The Reserve Bank of India (RBI) on Thursday re-articulated its core purpose so as to delineate its strategic objectives in contemporary terms, to provide a framework and backdrop within and against which its policies would be formulated.

Besides the core purpose, which is aimed at fostering monetary and financial stability conducive to sustainable economic growth and to ensure the development of an efficient and inclusive financial system, the central bank has also elaborated on its values and vision.

The central bank’s statement on core purpose, values and vision comes in the backdrop of it completing 80 years of operations.

Among others the core purpose reflects the RBI’s commitment to foster confidence in the internal and external value of the rupee, and contribute to macro-economic stability; regulate markets and institutions under its ambit to ensure financial system stability and consumer protection; promote the integrity, efficiency, inclusiveness and competitiveness of the financial and payments system; and support the balanced, equitable and sustainable economic development of the country.

The Reserve Bank of India said it commits itself to shared values relating, among others, to public interest, integrity and independence of views, responsiveness and innovation, diversity and inclusiveness, that guide organisational decisions and employee actions in pursuit of the Bank’s core purpose.

In its vision, the RBI said it is committed to pursue the public interest and common good as a leading central bank that is recognised for its credible, transparent and proactive policies.

Published on April 09, 2015
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