RBI Unveiled Utkarsh 2029 targets digital currency, UPI global expansion drive
In April 2026, the Reserve Bank of India (RBI) unveiled its medium-term strategy, Utkarsh 2029 for April 2026 to March 2029, aimed to consolidate its position as a world-class, full-service central bank.
In April 2026, the Reserve Bank of India (RBI) unveiled its medium-term strategy, Utkarsh 2029 for April 2026 to March 2029, aimed to consolidate its position as a world-class, full-service central bank.
- The newly launched strategy for 2029 outlines 49 deliverables across 6 pillars: robust regulations, customer centricity and inclusive finance, competitive markets, effective technology, future-ready organisation and global integration.
Key Objectives of Utkarsh 2029:
Project Sa-Mudra: The framework plans to advance Project Sa-Mudra to modernise currency management systems.
CBDC Expansion: The strategy also plans to expand the use of Central Bank Digital Currency (CBDC), enabling more efficient cross-border payments.
ULI Framework: It also emphasizes the scaling-up of the Unified Lending Interface (ULI) to enhance access to credit, particularly for underserved segments.
Indigenous-built LLM: It also plans to develop an indigenous Artificial Intelligence (AI) tool based on purpose-built Large Language Model (LLM)for its internal operations.
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