This unique combination of responsibilities for monetary policy combined with macroprudential regulation and microprudential supervision with an implicit mandate for systemic oversight has allowed the Reserve Bank to exploit the synergies across various dimensions. The micro-level information coming from supervision of individual institutions has been a valuable input for shaping the macro perspective.
On the other hand, the broad understanding from macroprudential regulation has been effective in instituting prudential safeguards at the micro institution level. Recognizing the importance of an institutional mechanism for coordination among regulators and the Government, in December 2010, the Government established the Financial Stability and Development Council (FSDC) to be chaired by the Finance Minister.