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    <title>Evolving Role of Central Banks (Shri Shaktikanta Das, Governor, Reserve Bank of India - June 17, 2019 - Delivered at the Lal Bahadur Shastri National Academy of Administration (LBSNAA), Mussoorie)</title>
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    <description>Central banks must preserve monetary and financial stability while supporting growth; the Reserve Bank&#039;s approach sets the primary objective of monetary policy as maintaining price stability within a flexible inflation targeting regime, varying policy stance and instrument choice with macroeconomic conditions. Crisis periods may require unconventional liquidity and asset measures alongside calibrated domestic regulatory responses. Post-crisis reforms focus on stronger capital, leverage and liquidity standards, macroprudential tools, resolution frameworks for stressed assets, and enhanced supervision of non-bank intermediaries and cooperative banks. Communication and coordination are essential to manage spillovers and align price stability, financial stability and growth.</description>
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