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Reserve Bank of India (RBI) Governor Sanjay Malhotra has inaugurated the new campus of the Centre for Advanced Financial Research and Learning (CAFRAL) in Mumbai. During the event, the Governor highlighted the importance of continuous learning, professional capacity building and research in addressing the evolving needs of the financial sector. CAFRAL, an institution promoted by the RBI, focuses on research in banking, finance and macroeconomics while also providing leadership development and training programmes for senior financial sector professionals. The institution aims to function as a global centre of excellence supporting policy formulation, knowledge creation and capability enhancement across India’s financial ecosystem.
Reserve Bank of India Governor Sanjay Malhotra inaugurated the new campus building of the Centre for Advanced Financial Research and Learning (CAFRAL) in Mumbai on 23 June, marking a significant milestone for the RBI-promoted institution dedicated to research and professional development in the financial sector.
Addressing the gathering at the inauguration ceremony, Malhotra congratulated CAFRAL on moving into its own dedicated premises and underlined the growing importance of continuous learning, institutional capacity building and rigorous research in supporting the needs of the financial system.
The Governor stated that the financial sector is becoming increasingly complex and dynamic, making it essential for institutions and professionals to continually strengthen their knowledge and analytical capabilities. He emphasised that research and professional development play a critical role in helping the sector respond to emerging challenges and opportunities.
CAFRAL was established with the objective of promoting advanced research and learning in banking, finance and macroeconomics. The institution seeks to contribute to policymaking while supporting leadership development and professional excellence across India's financial services industry.
According to its stated vision, CAFRAL aims to develop into a global centre of excellence in banking, finance and macroeconomic research. The institution works to generate policy-oriented knowledge and support informed decision-making within the financial sector through academic and applied research initiatives.
Its research division focuses on producing analytical studies and evidence-based insights relevant to financial sector policies, banking regulation, economic development and broader macroeconomic issues. These research outputs are intended to assist policymakers, regulators and industry stakeholders in addressing evolving financial and economic challenges.
Alongside its research activities, CAFRAL operates a learning and development vertical that provides training, leadership development and capacity-building programmes for senior professionals across banks, financial institutions and regulatory bodies. The programmes are designed to enhance professional competencies and strengthen institutional capabilities within the financial ecosystem.
The institution functions under the guidance of a governing council chaired by the RBI Governor. The governance framework is intended to ensure alignment between CAFRAL's research and learning activities and the broader objectives of financial sector development and policy advancement.
The inauguration ceremony was attended by RBI Deputy Governors Swaminathan J, Poonam Gupta and Rohit Jain, along with other senior officials and stakeholders associated with the institution.
The establishment of the new campus is expected to provide CAFRAL with expanded infrastructure to support its research, training and policy engagement activities. As the financial sector continues to evolve through technological change, regulatory developments and increasing market complexity, institutions focused on knowledge creation and professional development are expected to play a growing role in strengthening the sector’s capabilities and resilience.
Source - PTI
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