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Business EconomyPosted at: Apr 1 2025 11:50PM


RBI commemorates 90th anniversary; special postage stamp released

Mumbai, Apr 1 (UNI) President Droupadi Murmu on Tuesday released a special Postage Stamp to commemorate the 90th anniversary of the Reserve Bank of India (RBI).
Speaking at the event, President Murmu lauded the efforts of the RBI in strengthening and regulating the financial sector, ensuring stability, and fostering economic growth in the nation, an official statement by the Ministry of Communications said.
Union Minister for Communications Jyotiraditya Scindia congratulated the RBI for ensuring the country's economic fabric remains robust and for shaping the nation's financial landscape. He also highlighted the role India Post has played towards financial inclusion with its vast network of 1,65,000 Post Offices across the country.
The Post Office Savings Bank (POSB) has played a crucial role in offering savings schemes, while the traditional money order service has evolved into the iMoney Order, making money transfers quicker, more convenient, and more affordable.
The RBI was established on April 1, 1935 at its iconic building in Kolkata. As it completes nine decades of dedicated service to the nation, the RBI continues to play a pivotal role in fostering stability, trust, and growth in the financial system. Beyond its core responsibilities of monetary policy, currency management, government debt management, and financial regulation, the RBI also focuses on financial inclusion, consumer awareness, and the promotion of financial literacy.
This special stamp serves as a tribute to the institution’s significant contributions to India’s economic growth and its unwavering commitment to financial stewardship.
RBI Governor Sanjay Malhotra said “As we mark this milestone, we recognize that the Reserve Bank's role has expanded significantly beyond its initial mandate. Today, we stand at the confluence of tradition and transformation, where the imperatives of price stability, financial stability, and economic growth intersect with rapid technological advancements, global uncertainties, challenges of climate change and increasing public expectations.”
The next decade will be crucial in shaping the financial architecture of our economy, he said adding “We remain committed to expanding and deepening financial inclusion. We shall strive to foster a culture of continuous improvement in customer services and strengthening customer protection. It will be our endeavour to optimize our regulatory frameworks by balancing the interests of financial stability and efficiency. We will continue to support technology and innovation. We shall remain vigilant, adaptive, and forward-looking.”
"Even as we embrace new technologies and modern regulatory approaches, our core values - integrity, transparency, and commitment to public service - will continue to guide us," he said.
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