The RBI is also entrusted with the management of foreign exchange reserves, which are reflected in its balance sheet. While the RBI is essentially a monetary authority, its founding statute mandates it to be the manager of public debt of the Government of India and the banker to the Government.
During the formulation of these processes, there is utmost importance to ensuring the protection of financial services consumers, and the stability of new entities, which of course impacts on the stability of the entire system. We must not forget the lessons of the most severe financial crisis in our generation, which was caused by irresponsible measures and inadequate supervision.