India's central bank chief seeks 'new rules' for central banks

India's central bank chief on Saturday said "new rules of the game" were needed for monetary policy-making, arguing that greater oversight was crucial in an increasingly integrated global economy. Respected central banker Raghuram Rajan proposed a traffic light-style system whereby a central bank's policies could be rated red, orange or green depending on their level of harmful "spillover" effects. Across the world, central banks have resorted to stark measures in recent years in an attempt to k