The RTGS system, implemented in March 2004, has become the backbone for settlement of large value payments. In 2012–13, RTGS handled 68.52 million transactions of value Rs.1026 trillion with a growth rate of 24% in volume terms.
We need to extend our knowledge about the macroeconomic effects of climate change, in particular in key areas like inflation, productivity and trade. A recent study found that, out of approximately 77,000 articles published in top economics journals, less than 60 have been on climate change.7 So the ECB will also strive to deepen its analysis and its modelling in this field.