The third role was to prevent bubbles and ensure the stability of the economy and financial system. Looking at the economic stagnation after the Lehman shock, one is confronted with the question of why an extraordinary credit bubble was allowed to form into the middle of 2000s, which was the root cause of the global financial crisis.
In particular, I would like to mention some of the important measures taken by the RBI aimed at customer protection   Mandating online alerts for all card-based transactions irrespective of the value or the delivery channel. This would include transactions effected through the mobile wallets.