The lessons of the pandemic will be imbibed and the RBI will emerge stronger and more resilient than before, and committed to its mandate of price stability, keeping in mind the objective of growth. In fact, the statement of December 8, 2021 states that “our motto is to ensure a soft landing that is well-timed.”  7  16
We have made strides on harmonization of: monetary policy frameworks, exchange rate policies, rules and practices governing bank supervision, financial accounting principles, payment systems and policies and standards on statistics. A number of national laws are also being harmonised.