The Reserve Bank of India (RBI), under Governor Shaktikanta Das, was honoured with the ‘Changemaker of the Year’ award at The Hindu Businessline Changemaker Awards 2023, hosted in New Delhi on November 3.
The fifth edition of the awards rewarded achievers who have left a positive mark on society across six categories – Changemaker of the Year, Iconic Changemaker of the Year, Changemaker – Social Transformation, Changemaker – Digital Transformation, Changemaker – Financial Transformation, and Young Changemakers.
Reserve Bank of India (RBI) bagged the ‘Changemaker of the Year’ award for playing a pivotal role in handling the Indian economy during a period of pandemic. Das helped in keeping inflation under control and supporting economic growth, informed a statement from organisers.
“Over the past three years, India’s economy and financial system faced significant challenges, including the pandemic and the war in Ukraine. Amidst these challenges, the Reserve Bank of India (RBI) stood by in support of the economy, shining like a beacon. The RBI swiftly responded to the pandemic by reducing the repo rate to a historic low of 4 pc, ensuring liquidity and credit accessibility when needed. As conditions improved, the RBI efficiently rolled back these measures while maintaining strict oversight of banks and NBFCs.”
“Unlike central banks in the West, the RBI adeptly balanced inflation and growth through a series of rate hikes from May 2022 to April 2023, prioritising growth. Additionally, under Governor Das’s leadership, the RBI supported innovation, fostering India’s digital payments ecosystem while opposing the legalization of cryptocurrencies.”
“What’s noteworthy is the collaborative effort between the RBI and the government, working together seamlessly to shape policies that drove economic growth. This success can be credited to Governor Shaktikanta Das, a seasoned ex-bureaucrat at the helm of the RBI,” the statement explained.
Dairy cooperative AMUL (Anand Milk Union Limited) was named the ‘Iconic Changemaker of the Year’ in recognition of its enduring impact on the country over the decades, standing the test of time as a transformative force.
Neha Bagaria, Founder and CEO of HerKey and Safeena Hussain, Founder of Educate Girls, were honoured with the ‘Changemaker – Social Transformation’ award.
HerKey is India’s largest career engagement platform for women and provides job opportunities, skilling, and mentorship for women wishing to enter or re-enter the job market. Educate Girls is a non-profit organisation in India, established 2007, that works towards girls’ education in India’s rural and educationally backward areas by mobilising communities.
Stellapps Technologies received the ‘Changemaker – Digital Transformation’ accolade. The Bengaluru-headquartered start-up works on digitising the dairy sector.
The Pradhan Mantri Jan Dhan Yojana (PMJDY) was recognised with the ‘Changemaker – Financial Transformation’ award for its significant role in India’s economic revolution.
“The financial inclusion program has made significant progress towards increasing financial literacy and reducing poverty in the country. It has created millions of new bank accounts, particularly in rural areas, and has enabled account holders to make transactions digitally. PMJDY aims to curb financial exclusion and promote inclusive growth,” according to organisers.
Shrinidhi RS was announced as the ‘Young Changemaker’ for dedicated efforts in Ed-tech and Mental Health Awareness. Shrinidhi RS is the Co-founder of CherriLearn, an education app that offers gamified lessons in regional languages to children of classes 1 to 5.
Raj Kumar Singh, Minister of Power and New Renewable Energy, was the Chief Guest. Congratulating the winners, he underlined the significance of those who make a difference, whether it be for few people or the whole country. “That is the satisfaction, the truest reward and that is what you’ll always remember,” he noted.
“More than any reward it’s that satisfaction that is important. But the awards are also important because when we do something good or that has made a difference, we would like to be recognised apart from the fact that we have the satisfaction that we made something better. I want to congratulate Businessline for holding these awards,” he added.
Raghuvir Srinivasan, Editor, Businessline, said, “This award is given to recognise exceptional people and organisations that are driving change in society but yet fly under the radar, unrecognised and not applauded. It is our newspaper’s endeavour to shine the spotlight on these outstanding individuals and organisations, not just through our columns but through public events like this.”
The jury was helmed by M. Damodaran, Former Chairman, SEBI (Jury Chair) and included Pallavi S Shroff, Managing Partner, Shardul Amarchand Mangaldas; Dr V Sumantran, Chairman, InterGlobe Aviation (Indigo Airlines); Harish Bhat, Brand Custodian, Tata Sons; Lakshmi Narayanan, Former Vice-Chairman, Cognizant; Poonam Natarajan, Director, Vidya Sagar; and Suchitra Ella, Joint Managing Director, Bharat Biotech.
Dr. Nirmala Lakshman, Chairperson, The Hindu Group, stated, “We understand the power of information. It can shape minds, transform society and drive change. We always endeavour to shine a light on the news in perspective that matters and stories that have the potential to create a positive impact and drive a meaningful change in the world. What keeps us going are the people, the millions of readers who turn to us every day, whether in print or online.”
The Businessline Changemaker Awards were presented by Sastra University and powered by associate partners including Life Insurance Corporation of India (LIC), Casagrand, Gujarat Mineral Development Corporation, Punjab & Sind Bank, United India Insurance, LIC Housing Finance, GAIL, and NTPC.
J&K Bank was the Banking Partner for the event, with Online Grocery Partner Big Basket, Tourism Partner Bihar Tourism, and Education Partner SSVM Institutions. NewsX was Television Partner, Anand Prakash was Gifting Partner, Ashoka and Deloitte were Knowledge Partners and Niti Consulting was the Validation Partner .
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