Central banks need to be proactive to better serve objectives of price and financial stability in uncertain world says RBI Governor

The global economy stands at crossroads. Challenges remain in plenty, but new opportunities are also knocking at the door, according to Shaktikanta Das, Governor, Reserve Bank of India. Das noted in a speech that we need policies that are attuned to the new realities of the global economy. In an uncertain world, central banks need to be proactive to better serve the objectives of price and financial stability. In this environment, collaboration is not an option but a necessity. We need greater resolve and coordination to make significant progress in dealing with global challenges. The cooperation among countries should give due consideration to the principles of comparative advantage and resource endowments so that each one of us benefits.