December 8, 2023

The RBI’s unusually blunt communication strategy during the Covid-19 crisis has helped to maintain calm and provide policy guidance, RBI Deputy Governor Michael Patra said on January 28 .

Speaking in Hyderabad, Patray said the RBI has generally “escaped from the bright light of the spotlight”. “However, when the chips are down and crisis is imminent, it rises from the depths it inhabits and throws itself in the gathering storm.”

A key change that central banks have made is to use