Mumbai: At the onset of its 81st year, the RBI Thursday re-articulated its core purpose of fostering confidence value of rupee and promoting sustainable economic development of the country.
"A need was felt to rearticulate the core purpose of the Reserve Bank so as to delineate its strategic objectives in contemporary terms, to provide a framework and backdrop within and against which its policies would be formulated," it said in a statement.
The central bank said the "core purpose" include fostering "confidence in the internal and external value of the rupee, and contribute to macro-economic stability" and "to regulate markets and institutions under its ambit to ensure financial system stability and consumer protection".
Supporting the balanced, equitable and sustainable economic development of the country and promoting the "integrity, efficiency, inclusiveness and competitiveness of the financial and payments system" are among some of the other core purpose, it added.
The RBI said its "values" include public interest; integrity and independence of views; and introspection and pursuit of excellence.
On April 2, RBI celebrated its 80th anniversary. The function among others was attended by Prime Minister Narendra Modi and Finance Minister Arun Jaitley.
