The President of India, Smt Droupadi Murmu graced the closing ceremony of the commemoration of the 90th year of the Reserve Bank of India on April 1, 2025 in Mumbai.
Speaking on the occasion, the President said that the RBI, as the central bank, is at the very heart of India’s incredible growth story. It has witnessed the whole journey of the country so far, from the time before Independence when it was suffering from widespread poverty to the time now when it is among the top economies in the world.
The President said that RBI has emerged as one of the most critically important institutions in the nation. She emphasized that while most citizens may not interact with the RBI directly, their financial transactions are governed by it, fostering immense public trust in the nation’s monetary system. This trust, she stated, has been RBI’s greatest achievement over the past nine decades. The RBI earned this trust by steadfastly maintaining its mandate of price stability, growth, and financial stability. Also, it has continuously adapted to meet the evolving needs of our growing nation. Its swift responses to key challenges, from economic liberalisation in the 1990s to the Covid-19 pandemic, highlight its resilience and adaptability. In an increasingly globalising world, it has also ensured that India’s financial system remains resilient in the face of any adverse international trends.
The President said that the RBI has played a key role in making India a global leader in digital payments. By continuously modernizing the country’s payment infrastructure, it has ensured that digital transactions are not only seamless and efficient but also secure. Innovations like the UPI have revolutionised financial access, enabling instant, low-cost transactions and deepening financial inclusion. Beyond payments, RBI has nurtured a vibrant fin-tech ecosystem.
The President said that as India approaches the centenary of its Independence, the mission of ‘Viksit Bharat 2047’ calls for a financial ecosystem that is innovative, adaptive, and accessible to all. She stated that the path ahead would present new complexities and challenges. She expressed confidence that with a steadfast commitment to stability, innovation and inclusivity, RBI would continue to be a pillar of strength – reinforcing trust and steering India towards a future of prosperity and global leadership. She concluded by reaffirming RBI’s defining role as the guardian of monetary and financial stability, ensuring a robust banking system, driving financial progress, and upholding trust in India’s financial ecosystem.
