In looking back, I will focus on the New Zealand experience, but the main conclusions I draw are not unique to New Zealand. I will argue that inflation targeting has done well on the price stability front, and has given central banks a lot of flexibility in helping steer the economy through turbulent waters.
The Reserve Bank of India in pursuit of its commitment to allow only licensed cooperative banks to do banking business in India relaxed the licensing parameters that enabled 290 cooperative banks (StCBs / DCCBs) to get banking license from RBI. Only 23 banks remained unlicensed as on date in four States viz.