BANKING & FINANCE
RBI
RBI Approves 'Utkarsh 3.0' Strategy Framework and 2026-27 Budget in 622nd Board Meeting
The Reserve Bank of India’s Central Board of Directors held its 622nd meeting in Patna, chaired by Governor Sanjay Malhotra.
The board formally approved the Medium-Term Strategy Framework (Utkarsh 3.0) for the 2026-2029 period, focusing on institutional efficiency and financial stability.
During the session, the RBI's budget for the accounting year 2026-27 was also ratified.
The board reviewed the impact of global geopolitical developments on domestic financial markets and assessed the current economic landscape.
Significance: Utkarsh 3.0 will act as the three-year roadmap to align the central bank's internal goals with evolving regulatory needs.
The board formally approved the Medium-Term Strategy Framework (Utkarsh 3.0) for the 2026-2029 period, focusing on institutional efficiency and financial stability.
During the session, the RBI's budget for the accounting year 2026-27 was also ratified.
The board reviewed the impact of global geopolitical developments on domestic financial markets and assessed the current economic landscape.
Significance: Utkarsh 3.0 will act as the three-year roadmap to align the central bank's internal goals with evolving regulatory needs.
Key Facts / Static GK
RBI Governor: Sanjay Malhotra
RBI Headquarters: Mumbai
Established: 1 April 1935
RBI Headquarters: Mumbai
Established: 1 April 1935
Practice Quiz — 23 March 2026
Q1. Regarding the 'PRARAMBH 2026' initiative, what does the 'N' represent in the M.A.N.A.V. framework?
Answer: (B) National Sovereignty — In the PRARAMBH 2026 framework M.A.N.A.V., the acronym stands for: Moral & Ethical Systems, Accountable Governance, National Sovereignty, Accessible & Inclusive AI, and Valid & Legitimate Systems.
Q2. What is the specific duration covered by the newly approved 'Utkarsh 3.0' strategy framework of the RBI?
Answer: (C) 2026-2029 — Utkarsh 3.0 is the Medium-Term Strategy Framework approved by the RBI board to cover a three-year period from 2026 to 2029.
Q3. Which of the following statements is true regarding the new UPI-linked credit line launched by Bank of Baroda?
Answer: (C) It is the first bank in India to introduce such a facility for Women SHGs. — Bank of Baroda is the 1st bank in India to introduce a UPI-linked credit line (OD facility) specifically for Women SHG members holding PMJDY accounts, with a maximum limit of ₹5,000.
Q4. What was the total value of India's textile exports in FY25 according to the NIRYAT data?
Answer: (C) USD 36,610 million — India’s total textile exports for the fiscal year 2024-25 (FY25) stood at USD 36,610 million, with Tamil Nadu contributing the largest share.
Q5. What was the primary reason Kaveh Madani was awarded the Stockholm Water Prize 2026?
Answer: (B) Contributions to water governance and crisis management — Kaveh Madani was honored for his contributions to water governance and shifting the global focus from infrastructure-only to governance-based solutions for water crisis management.
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