Stability, Trust, and Tech: RBI Governor’s Bali Address Signals India’s Financial Renaissance

At the 24th FIMMDAPDAI Annual Conference in Bali on April 18, 2025, Reserve Bank of India Governor Shri Sanjay Malhotra delivered a keynote address that underscored the central bank’s unwavering commitment to stability, trust, and growth amid global economic uncertainty. Speaking to a gathering of financial market leaders, Malhotra outlined the RBI’s strategic priorities and the evolving policy landscape.

 

Key Highlights:

 

Stability, Confidence, and Development: Malhotra re-affirmed these to be the pillars of RBI guidance, underlining that policy making will remain guided by public benefit, institutional faith, and macroeconomic stability. He underscored the need for continuity with being responsive and dynamic to changes internationally and domestically.

 

Monetary Policy Outlook: The Governor underlined that India's monetary policy would continue to be growth-friendly but inflation-watchful with a view to ensuring non-inflationary growth based on better demand-supply management and responsible fiscal policy.

 

Regulatory Innovation: Malhotra announced the expansion of the RBI’s regulatory sandbox to a theme-neutral, on-tap model, encouraging broader innovation in fintech and financial services. He also reiterated the importance of digital security, with new measures to strengthen cyber resilience in banking and payments.

 

Financial Inclusion and Technology: The address spotlighted the RBI’s ongoing drive for financial inclusion, leveraging technology to expand access and efficiency in the banking sector.

 

Collaborative Approach: Malhotra advocated large-scale stakeholder consultations, acknowledging that the effectiveness of policy relies on broad outreach to banks, regulators, and the wider financial ecosystem.

 

Malhotra's speech created a tone of guarded optimism, indicating that the RBI will be "alert and agile" to steer through challenges and anchor India's economic advancement.

 

Sources: Business Standard, Economic Times, CNBC TV18, YouTube RBI Live