The RBI has unveiled its medium-term strategy framework named “Utkarsh 2029”, which will be implemented from April 2026 to March 2029. The strategy aims to consolidate the position of the RBI as a world-class, full-service central bank by outlining 49 deliverables across six strategic pillars.
The six pillars of the framework include robust regulations, customer centricity and inclusive finance, competitive markets, effective technology, a future-ready organisation, and global integration. The framework introduces “Project Sa-Mudra” to modernise currency management and envisions the expansion of Central Bank Digital Currency (CBDC) for efficient cross-border payments.
The RBI also intends to scale up the Unified Lending Interface (ULI) to enhance credit access for underserved segments of the economy. Additionally, the strategy includes the development of an indigenous AI tool based on a purpose-built Large Language Model (LLM) for internal operations.
