RBI Remains Focused On Protecting Consumers, Boosting Financial Inclusion: Gov Sanjay Malhotra

Malhotra added that the RBI remains committed to advancing financial inclusion, strengthening consumer protections, and continuously improving customer services.

He noted that the trust of the Indian people remains the central bank’s greatest asset.

Source : PTI

Reserve Bank of India (RBI) Governor Sanjay Malhotra on Tuesday reiterated the central bank’s dedication to strengthening consumer protection while refining regulatory frameworks to maintain a balance between financial stability and efficiency.

Speaking at the closing ceremony of the RBI's 90th anniversary celebrations, the governor noted that the central bank's responsibilities have expanded beyond the original agenda, reported PTI.

“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,” he stated.

Looking ahead, he emphasised that the next decade will play a crucial role in shaping India’s financial landscape. Malhotra added that the RBI remains committed to advancing financial inclusion, strengthening consumer protections, and continuously improving customer services.

“We shall strive to foster a culture of continuous improvement in customer services and strengthening consumer protection,” he said.

Strengthening the Financial Ecosystem

Malhotra underscored the central bank’s ongoing efforts to optimise regulatory frameworks while ensuring a balance between stability and efficiency. “It will be our endeavour to optimise our regulatory frameworks by balancing the interests of financial stability and efficiency. We will continue to support technology and innovation. We shall remain vigilant, adaptive, and forward-looking,” he said.

Highlighting the importance of collaboration, he assured that the RBI would work closely with governments, financial regulators, and other stakeholders to fortify the financial ecosystem. “RBI will do everything that is required to improve the financial system by expanding its access, enhancing its efficiency, and strengthening its resilience in an evolving economic landscape,” he stated.

Malhotra reaffirmed the RBI’s core values, emphasising integrity, transparency, and public service. He noted that the trust of the Indian people remains the central bank’s greatest asset. “The trust that the people of India repose in the Reserve Bank is our greatest asset. We are determined to preserve it and further strengthen it in the years ahead,” he said.

As the RBI steps into its centenary decade, Malhotra stressed the need for continuous adaptation, innovation, and collaboration to navigate future challenges. “The journey ahead will demand continuous adaptation and agility, fresh thinking and innovation, collaboration and coordination, and an unwavering commitment to excellence and perfection,” he added.

Reaffirming the RBI’s proactive role in India’s economic progress, Malhotra assured that the institution remains fully prepared to tackle challenges and seize opportunities for growth.