RBI Central Board Clears 2026-27 Budget and Utkarsh 3.0 Strategy
Why in the news
The Central Board of the Reserve Bank of India cleared the Bank’s yearly budget and its next three-year strategy during a meeting in Patna.
Key facts
- Meeting: 622nd Central Board meeting, held in Patna.
- Chair: Sanjay Malhotra.
- Approved: RBI budget for FY 2026-27 and Utkarsh 3.0 (2026-29).
- Utkarsh 3.0 is a Medium-Term Strategy Framework (MTSF) following Utkarsh 1.0 and 2.0.
Six priorities of Utkarsh 3.0
| Theme | What it involves |
|---|---|
| Financial stability | Closer watch on systemic risk; stronger crisis readiness of banks and NBFCs |
| Regulation and supervision | Risk-based, data-driven supervision; better compliance and governance |
| Digital transformation | AI, data analytics and fintech; payment systems and cybersecurity |
| Monetary policy | Better rate transmission; stronger inflation targeting |
| Inclusion and consumer protection | Wider access to banking; better grievance redressal |
| Internal capacity | Upskilling staff; modernising systems |
Board review
- Global economic trends and uncertainties.
- Geopolitical developments affecting markets.
- Effect on financial stability and capital flows; managing emerging risks.
Exam angle
- Strategy name: Utkarsh 3.0, period 2026-29.
- Type: Medium-Term Strategy Framework of RBI.
- Board meeting number and venue: 622nd, Patna.