Early this month, Reserve Bank of India (RBI) Governor Shaktikanta Das delivered a speech at the State Bank of India’s economics conclave, titled “Indian Economy at a Crossroad: A View from Financial Stability Angle”. Later this week, former RBI deputy governor Viral Achayra’s book, “Quest for Restoring Financial Stability in India”, will be released.
This is no coincidence. Financial stability is the talk of the town now. The Covid-19 pandemic is a recent threat but the factors threatening the financial stability have been around for quite some time.
Between September 2019 and March 2020, through press releases and tweets, the RBI repeatedly
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