New Delhi: President of India Droupadi Murmu attended the closing ceremony of the commemoration of the 90th year of the Reserve Bank of India (RBI) in Mumbai on 1 April 2025.
Speaking at the event, the president said that the RBI, as the central bank, has been at the core of India's remarkable growth story. From its early years before independence, when the country faced widespread poverty, to the present day, as India stands among the world's top economies, the RBI has played a crucial role in shaping the nation's financial landscape.
She emphasised that while the RBI operates behind the scenes for most people, with its name appearing only on currency notes, its influence extends to every financial transaction in the country. The trust it has built over nine decades is its greatest achievement, earned by maintaining price stability, supporting growth, and ensuring financial stability. Its ability to adapt to changing times has been evident in its swift responses to key challenges, from economic liberalisation in the 1990s to managing the impact of the Covid-19 pandemic. In an increasingly globalised economy, the RBI has ensured the resilience of India’s financial system against international disruptions.
She noted that the RBI has been instrumental in making India a global leader in digital payments. By modernising the country’s payment infrastructure, it has made digital transactions seamless, efficient, and secure. Innovations such as UPI have transformed financial accessibility, enabling instant, low-cost transactions and expanding financial inclusion. Beyond digital payments, the RBI has fostered a dynamic fintech ecosystem that continues to drive innovation.
Looking ahead to the centenary of India’s independence, the president said that the vision of Viksit Bharat 2047 calls for a financial system that is innovative, adaptable, and accessible to all. While new challenges will emerge, she expressed confidence that the RBI, with its commitment to stability, innovation, and inclusivity, will remain a pillar of strength, reinforcing trust and guiding India towards greater prosperity and global leadership. As the guardian of monetary and financial stability, the RBI will continue to play a defining role in maintaining a sound banking system, driving financial innovation, and ensuring trust in the financial ecosystem.
BI Bureau
