At the end of the day, the instruments used by central banks are more like a painkiller, ie they temporarily make the problems more bearable, but they do not tackle the root causes and are even associated with risks and side-effects.
In the third Phase (1950–1990), a major initiative for pursuit of the mandate given to the Reserve Bank was taken with sponsoring of All India Rural Credit Survey in 1951–52. The study recommended an integrated approach to cooperative credit and emphasized the need for viable credit cooperative societies by expanding their area of operation, encouraging rural savings and diversifying business.