For much of the past four decades, central banks have been judged by a relatively straightforward mandate: keep inflation under control, preserve confidence in financial markets and intervene during periods of economic stress. Financial crises certainly reshaped policy thinking from the Global Financial Crisis of 2008 to the pandemic-induced disruptions of 2020 but the underlying…
For almost four decades, corporate treasury teams across the world operated with a degree of confidence that interest rates, while cyclical, broadly followed a predictable economic playbook. The post-1980s era of globalisation, central bank credibility and relatively stable inflation created an environment where treasury decisions around borrowing, debt maturity and liquidity could be made with…
As Shri M. Rajeshwar Rao concludes his distinguished tenure as Deputy Governor of the Reserve Bank of India (RBI) on October 8, 2025, it is an opportune moment to reflect on his significant contributions to India’s financial landscape. Appointed on October 9, 2020, Shri Rao’s leadership spanned pivotal phases, including the post-pandemic economic recovery and…
