‘UTKARSH 2022’: Three year roadmap of RBI

The RBI Board finalised a 3-year roadmap covering its mission and vision for regulation and supervision

• The three-year medium-term strategy- named UTKARSH 2022 has been made for improving regulation, supervision of the central bank and avoid any crisis
• Deputy Governor Viral Acharya anchored an internal committee which was formed to identify issues to be addressed in the next three years
• The step has been taken with a recent crisis due to IL&FS and confidence crisis in the NBFC sector
• All central banks across the world strengthen their regulatory and supervisory mechanism by formulating a long-term plan as well as a medium-term plan. RBI has also formulated a three-year plan on the same line

RBI:

• The RBI is India’s central bank, established on April 1, 1935, under the Reserve Bank of India Act
• RBI function is to provide financial stability, regulate the country’s currency and credit systems, monitors India’s monetary policy etc.
• Shaktikanta Das is the present Governor of the Reserve Bank of India

Question: 

Q.1 UTKARSH 2022 recently in the news, deals with which among the following subjects?
a. Data leak policy of SEBI
b. NBFC investment policy and PSUs
c. RBI core investment company policy
d. RBI three year roadmap for regulation & supervision

Q.2 Which statement about UTKARSH 2022 launched recently by RBI is correct?
a. Is a 5-year long term strategy
b. Is a 6 months short term strategy
c. Is a 3-year medium-term strategy
d. Is a 10-year long term strategy