MUMBAI : President of India Droupadi Murmu, while addressing the 90th anniversary function of the Reserve Bank of India (RBI) in Mumbai, underscored the increasing risks of financial fraud and cyber threats in an era of rapid technological advancement.
She praised the RBI for its proactive approach in strengthening financial safeguards and ensuring a secure banking environment.
She also lauded the RBI’s efforts in promoting sustainable finance, aligning with the government’s vision for a greener economy.
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The introduction of the Green Deposit Framework and the prioritization of green finance initiatives were acknowledged as crucial steps in fostering environmental sustainability through banking policies.
Reflecting on the RBI’s journey over the past 90 years, the President highlighted its critical role in implementing financial reforms, maintaining macroeconomic stability, and aligning with government policies to navigate complex economic transitions.
She emphasized that the RBI would continue to be a pillar of strength in India’s financial landscape, reinforcing stability, innovation, and inclusivity.
RBI’s biggest achievement is trust. It has steadfastly upheld its mandate of price stability, growth, and financial stability while adapting to the evolving needs of the nation. She credited the RBI’s resilience, citing its swift responses to key challenges such as economic liberalization in the 1990s and the COVID-19 pandemic.
The President also highlighted the RBI’s role in making India a global leader in digital payments by modernizing the country’s payment infrastructure.
She acknowledged innovations such as the Unified Payments Interface (UPI) for revolutionizing financial access and deepening financial inclusion.
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Beyond payments, the RBI has nurtured a vibrant fintech ecosystem and continues to strengthen consumer protection frameworks in an increasingly technology-driven financial landscape.
As India advances towards a future of global economic leadership, the RBI’s role as the guardian of financial stability will be instrumental in ensuring a sound banking system, driving financial innovation, and safeguarding trust in the financial ecosystem.