The paper is schematized as follows. Section I explains India’s stand on global initiatives for implementation of standards and codes. While Section II narrates India’s association with global efforts in evolving and promoting financial standards and codes, Section III describes the Indian approach to the implementation. Section IV mentions the institutional arrangements that have been put in place to guide the process of implementation.
Section V provides an account of the work processes followed by Advisory Groups in the course of preparation of Reports. Section VI indicates the current status, while Section VII touches on the plans for following up on the submission of Reports. Section VIII brings out some highlights of Indian experience so far.