Financial Stability:Underlining Context

The paper commendably manages the very difficult twin tasks of being comprehensive and up-to-date in an area where there are continuous new developments. It draws lessons from the global financial crisis and evaluates the success of Indian policies in following the seven point agenda identified by the G-20 as necessary for financial stability. In these comments, I will attempt to extend the analysis of some of these agenda items, by bringing in more issues relevant in the Indian context. This is very much in the spirit of the paper since its sub-title is ‘An Indian perspective’.