There are two ways in which some people say that we could contribute: first, through our asset purchase programme (APP) and second, through our role as banking supervisors. The Treaty has granted us independence in choosing the best monetary policy instruments to use in fulfilling our mandate for price stability. But that independence is not a carte blanche to act arbitrarily.
Dr C Rangarajan, Hon’ble Chairman, Economic Advisory Council to the Prime Minister, Mr Hari Sankaran, Managing Director and CEO, IL& FS, Shri S. S. Tarapore, Distinguished Fellow, Skoch Development Foundation, Shri J Sriram, CEO Mobile Commerce Venture, Bharti Airtel Ltd, and of course the main organiser of this function Mr Sameer Kochhar, distinguished guests, ladies and gentlemen.