RBI@90: Governor Sanjay Malhotra charts a bold path to the future amidst global uncertainties

Speaking at the 90th anniversary ceremony of the Reserve Bank of India (RBI), newly appointed RBI Governor Sanjay Malhotra emphasised the bank’s commitment to staying “vigilant, adaptive, and forward-looking,” as the RBI moves toward its centenary in a world of growing global uncertainties.

“The journey ahead will demand continuous adaptation and agility, fresh thinking and innovation, collaboration and coordination, and then unwavering commitment to excellence and perfection,” said Malhotra.

The ceremony, held on Monday at NCPA Mumbai, was attended by President Droupadi Murmu, Prime Minister Narendra Modi, and Minister of Communications Jyotiraditya Scindia.

“Today we stand at the confluence of tradition and transformation where the imperatives of price stability, financial stability and economic growth intersect with rapid technological advancements, global uncertainties, challenges of climate change and increasing public expectations,” Malhotra said.

In this context, Malhotra said that the bank remains optimistic of emerging technologies and will support innovation while adopting modern regulatory approaches.

“The next decade will be crucial in shaping the financial architecture of our economy. We remain committed to expanding and deepening financial inclusion. We shall strive to foster a culture of continuous improvement in customer services and strengthening consumer protection. It will be our endeavour to optimise our regulatory frameworks by balancing the interests of financial stability and efficiency. Even as we embrace new technologies and modern regulatory approaches, our core values - Integrity, transparency and commitment to public service - will continue to guide us,” added Malhotra.

Malhotra shared that the central bank has over the last one year initiated several high-level events to commemorate its anniversary on diverse themes such as emerging technologies and digital public infrastructure.

“We celebrated our past and reaffirmed our responsibility for the future. We reflected on our achievements and rich legacy and recommitted ourselves to realizing the vision of a Viksit Bharat built on a stronger, more stable and inclusive financial system,” added Malhotra.

Malhotra concluded saying the bank is all set to proactively and vigorously contribute to the country’s economy progress and remains “fully prepared to meet all challenges and seize all opportunities.”