Second, financial stability was assigned specific attention in formulating RBI’s monetary policy during the period when Dr. Reddy was the Governor of the RBI, and this was reinforced considerably by Governor Dr. Subbarao. Thus, in India, the dimension of financial stability was given due attention in the conduct of monetary policy, even before the onset of global crisis.
European Central Bank: Press conference - introductory statement Introductory statement by Mr Jean-Claude Trichet, President of the European Central Bank and Mr Lucas Papademos, Vice-President of the European Central Bank, Frankfurt am Main, 4 November 2004.