Next phase for RBI

Central bank should be empowered further

Speaking at a programme marking 90 years of the Reserve Bank of India (RBI) on Monday, Prime Minister Narendra Modi rightly noted that the institution played a pivotal role in advancing the nation’s growth trajectory. Financial stability is a necessary condition for economic growth and development in the long run. As the RBI commemorates this significant milestone, it presents an opportunity for the institution to not only reflect on its past achievements but also to chart a course for the future. This is vital because of the changing nature of macroeconomic and regulatory challenges. The Indian central bank, to be