Next decade crucial for RBI in shaping country's financial architecture, says governor Malhotra

Reserve Bank of India

The Reserve Bank of India’s (RBI) governor Sanjay Malhotra on April 1 said the central bank would strive to foster a culture of continuous improvement in customer services and strengthening consumer protection.

Malhotra was speaking at an event in Mumbai to mark the 90th anniversary of the RBI.

The next decade would be crucial for the country and the RBI in shaping the architecture of the economy and the central bank remains committed to expanding and deepening financial inclusion, the governor said.

It will be the RBI’s endeavour to optimise regulatory framework by balancing the interest of financial stability with efficiency, Malhotra said.

“We will continue to support technology and innovation. We shall remain vigilant, adaptive, and forward-looking,” the governor said.

The central bank will do everything to improve financial system by expanding its access, enhancing efficiency and strengthening resilience in an evolving economic landscape, Malhotra added.

The journey ahead demands continuous adaptation and agility, fresh thinking and innovation, collaboration and coordination, and an unwavering commitment to excellence and perfection.

“We at the RBI remained fully prepared to meet all challenges and seize all opportunities. To contribute proactively and vigorously as economy progress,” Malhotra said.