Raghuram Rajan: I do not want to enter a debate which probably is already fraught. Let me just step back from India and say more generally the ultimate objective of monetary policy is to tighten financial conditions. The central banks have been acting on using a variety of tools including not just the policy rate but also various liquidity management tools. I think about the central bank
India’s stock market volatility since last Diwali saw 60 stocks lose up to 96%
At least 63 stocks with a market capitalisation of over Rs 1,000 crore have lost more than half their value since last Diwali, with some