RBI to review organisational structure as part of vision strategy

The Reserve Bank of India (RBI) will undertake review and reframing of its organisational structure to implement strategies that form its vision statement for 2019-22.

The apex bank will also enhance the performance assessment system for its employees, RBI said, adding that it will also use technology and data analytics to promote research-based decision making by the workforce.

RBI's medium-term vision statement - Utkarsh 2022 - launched by Governor Shaktikanta Das on July 23, outlined its "core purpose" as the country's central bank. This included fostering confidence in the internal and external value of the rupee.

"The management of RBI attaches high importance to ‘Utkarsh 2022’ and will periodically monitor its implementation and progress through a Sub-committee of the central board," the central bank said in a release.

In May, the RBI merged three of its departments and increased headcount via lateral recruitment of consultants as part of a functional revamp. It was aimed at improving efficiency in the area of banking supervision.

Three supervisory departments-- department of banking supervision, department of co-operative banking supervision, and department of non-banking supervision, were merged into one for better utilisation of supervisory resources. #casansaar (Source - RBI, MoneyControl)