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Grace under fire: RBI represents a crisis manager's balancing acts
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Subrata Panda Mumbai
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The Indian economy has weathered several storms over the last 40 years, both external and internal. Dust lifted by such gales didn't last long as the country's central bank, the Reserve Bank of India (RBI), acted swiftly and performed a fine balancing act — spurring growth and keeping inflation in check.
Established on April 1, 1935, and nationalised in 1949, the RBI is responsible for issuing and regulating currency, formulating and implementing monetary policy, and maintaining price stability in the economy. It also plays a key role in supervising the country's financial system and serves as the regulator of the
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