As I noted earlier, Indian banks have come a long way in using technology to improve the reach and efficiency of banking. What they have done is laudable because they have adapted the best international technology practices to the Indian situation. I want to compliment them for what they have achieved and for their efforts towards addressing the challenges on the way forward.
This was a new role for many of the central banks. Therefore in meetings like this, we should discuss the extent to which central banks should directly use instruments to stimulate growth. However, the added responsibility should not come at the expense of price stability.