It established its first contact point with RBI in the year 1969, when it got the status of a Scheduled Bank, under the RBI Act. In 1972 it came out of its traditional bastion and opened its first branch in Chembur, Mumbai. The bank entered the field of International Banking in 1975.
According to this criterion, we have not, to our regret, sufficiently succeeded in maintaining price stability in Japan since the bubble period. BIS Review 55/2000  2  So far, I have mainly described the lessons for monetary policy derived from our experience during the period when the bubble emerged.