RBI deputy reviews Indian macro-prudential experience
Chakrabarty outlines need for policy judgement and analytical framework
A Reserve Bank of India (RBI) deputy governor, Kamalesh Chakrabarty, laid out his central bank's experience with macro-prudential policies over the past decade in a bumper edition of the Banque de France's financial stability review (FSR), released earlier this month.
The RBI began employing macro-prudential policies in 2004. Chakrabarty explained that the central bank largely relied on judgment at the time, but has since started developing an analytical framework for assessing systemic risks.
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