My sense is that a vision of the unprecedented loss and isolation that was to follow was already in the mind’s eye when that statement soothed frayed and tense expectations by stating that the RBI ‘is at work and in mission mode’.
It became the launching pad for aggressively unleashing an array of instruments covering many of the liquidity and regulatory measures enumerated in the preceding section as well as deferment of prudential standards. 12  Second, the statements were a beacon of light and hope amidst the encircling gloom.