Greater monetary policy co-ordination across Asia would help the region in its efforts to calm turbulent markets rocked by the global financial crisis, the governor of the Reserve Bank of India has said.

Speaking to the Financial Times, Duvvuri Subbarao, the newly appointed head of India’s central bank, said that central bankers and finance ministers in the region had been struck by the “synergistic impact” of co-ordinated action among the Group of Seven leading nations.