RBI’s Patra highlights value of bold crisis communications
Central bank usually avoids the “glare of the limelight” but Covid demanded rethink, says Michael Patra
The Reserve Bank of India adopted an unusually forthright communications strategy during the Covid-19 crisis that helped maintain calm and give guidance over policy, deputy governor Michael Patra said on January 28.
The RBI usually “shuns the glare of the limelight”, Patra said during remarks in Hyderabad. “Yet when the chips are down and crises loom, it rises up from the depths that it inhabits and flings itself at the gathering storm.”
A key change that the central bank made was to use
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