Deepak Mohanty: What should be the framework for monetary policy in future? Vote of thanks by Mr Deepak Mohanty, Executive Director of the Reserve Bank of India, at the 15th C D Deshmukh Memorial Lecture on “A revolution in monetary policy – lessons in the wake of the global financial crisis” delivered by Prof Joseph Stiglitz, Mumbai, 3 January 2013.
Some of these new activities on our balance sheet – such as the TAF, COMO, TLF, BMLS and increased activity in FX swaps – have been taken on using our existing capital and frameworks for managing financial risk.