Nor is this instruction unreasonable, in that the dual mandate has come to be interpreted as assigning us the responsibility for attaining price stability in the long run, which will bring with it maximum employment, and of being mindful of resource utilization in the succession of short runs that make up the long run.
A series of measures were announced after the framework for dealing with stressed assets was put out in February 2014. The mandatory need to form JLF in SMA21 exposures, determining a Corrective Action Plan or alternative measures to deal with a stressed asset, application of the flexible restructuring scheme in existing cases, the SDR, S4A etc., were part of the toolkits provided to banks.