Productivity growth: reversing the secular slowdown needs technology adoption, sustained investment, skills and supportive policy reforms.
A multi pronged policy response is needed to reignite productivity growth: deepen technological capital through ICT infrastructure and digital adoption; expand long term investment in R&D and innovation ecosystems; raise skills via education and retraining; improve physical infrastructure and business enabling reforms to reduce trade and regulatory costs; and broaden access to finance for SMEs. Central banks should incorporate productivity analysis into macroeconomic and financial stability assessments to inform calibrated policy aimed at sustaining non inflationary growth.

Cybersecurity in financial systems: international cooperation and common standards to strengthen resilience and incident response across banks.
Cyber risk to the banking and financial system arises from increased digitalisation and interconnections that can disrupt operations and undermine trust; traditional capital and liquidity measures may not mitigate such effects. The Reserve Bank emphasizes non-disruptive innovation with customer protection through mandates like two-factor authentication, tokenisation, continuous settlement availability, supervisory cyber exercises, and institution-building. Internationally, six strategies-mapping interdependencies, a minimum common cybersecurity framework, information sharing, coordinated incident response, enforcement to deter perpetrators, and capacity building-are proposed to strengthen systemic cyber resilience and support secure digital financial inclusion.