MUMBAI, India, Oct. 3 -- Reserve Bank of India issued the following speech:
Thank you for inviting me to speak today.
2. I would like to speak on financial stability, the institutional mechanism, approach and tools for financial stability in our country, the emerging global risks, and our assessment of the financial system.
I. What is Financial Stability?
3. As we all know, financial stability is the ability of the financial system to facilitate and enhance economic and financial transactions, manage risks, and absorb shocks1. A stable financial system is one in which financial intermediaries, markets and market infrastructures reliably provide the financial services that households and businesses depend on, including during periods of ...