Measures taken by the Bank: treading an unprecedented path  Since September 2008, when the turmoil in global financial markets and the financial systems in the United States and Europe increased in severity, the Bank has undertaken various measures.
These measures can be broadly divided into the following: (1) reductions in the policy interest rate; (2) provision of ample funds; and (3) restoring the proper functioning of financial markets. 1. Reductions in the policy interest rate  Let me begin with interest rate policy.