RBI Governor Shaktikanta Das Speech: Reserve Bank of India is going to bring a new technology soon. With the help of which the banking sector will be rejuvenated. RBI has started preparing to take some necessary measures for its module and data analysis. RBI is going to launch Utkarsh 2.0, a platform based on Artificial Intelligence (AI) and Machine Learning (ML) for the period 2023-2025. RBI Governor Shaktikanta Das has given information about this.
what is the plan
According to media reports, the RBI document states that adoption of AI and Machine Learning (ML) powered tools for data analysis and collection of information will be an integral part of Utkarsh 2.0. Utkarsh 2.0 will further strengthen the credibility of the banks among the customers. Along with strengthening supervision, it will help in increasing the confidence of citizens in RBI on the basis of new technology.
when did it start
RBI’s first strategy framework Utkarsh covering the period 2019-2022 was launched in July 2019. RBI was successful in bringing transparency in the banking system. Now it is ready for its next phase. RBI Governor Shaktikanta Das said in his statement that Utkarsh 2.0 is starting from 2023 in the backdrop of challenging global and domestic challenges. This is happening at a time when India is going to chair the G-20.
how’s it doing
Utkarsh 2.0 RBI Guidance year 2023 Will be between -25. Utkarsh 2.0 provides a unique opportunity to showcase India’s achievements in the field of digital payments and towards acceptance of Indian Rupee in bilateral, multilateral trade. The strengths of Utkarsh 2.0, Utkarsh 2022 will be used to determine the 6 vision statements as well as the core objects.