The Reserve Bank, as banker to various Governments, has well defined obligations and provides several services. First, the Central Government Treasury Rules, the Central Government Account (Receipts and Payments) Rules, in respect of the transactions of the Central departments, and the corresponding provisions in the State Financial codes are deemed to be legally binding on the Bank.
It required a truly joint approach between science and policy, between business and government. Policymakers had to put aside preconceived notions, be prepared to further integrate science into policymaking, and have the courage to follow the emerging evidence wherever it led.