The contribution of monetary policy to economic welfare and stability Having explained the more specific and current reasons for the ECB’s recent monetary policy moves, let me now put them in a broader perspective.
Volume II narrates the Reserve Bank’s role in the process of development planning from 1951 to 1967. The highlight of the third volume of history, covering the period from 1967 to 1981, is its depiction of Reserve Bank’s efforts to deepen banking into India’s hinterland. RBI History – Volume IV 6.