According to this view, in order to prevent excessive capital inflows during this period, RBI should have allowed the exchange rate to “overshoot” quickly the targeted exchange rate of, say, Rs. 46.20 (or any other number) to, say, Rs. 45.50.
We launched a broad suite of programs— including some that we used during the global financial crisis and others that we created from scratch. Supplying the funding that financial institutions needed We started by addressing the severe, immediate liquidity issues affecting financial institutions in Canada.