Even the best of macro- prudential policies might fall short while addressing serious economic crises and might not be able to foresee such challenging situations, said Reserve Bank of India ( RBI) Deputy Governor R Gandhi. He was speaking a conference in Chennai on Friday. Macro- prudential policy is the approach to financial regulation aimed at mitigating the risk of the financial system as awhole. According to him, the challenge is to establish an implementable framework to deal with the emerging systemic risks at an early stage. “Future crisis also may not replicate any of the past ones. Hence, history might not always be of help. Complacency may slowly set in even as our memories of bad times are gradually fading away,” he said. Gandhi said the banking regulator would make bond markets safer and easier to access, which would attract companies to raise money through corporate bonds. “We are trying to limit access to the banking finance, so that corporates can look at the