Before I address other individual issues, I shall highlight a very basic and core issue for the Indian banking system and that is the challenge of achieving Financial Inclusion. Without being inclusive, financial and economic stability cannot be sustainable.
Notably, the possible correction of macroeconomic imbalances in other major economies remains a factor of risk. In addition, we cannot exclude that the SARS epidemic may have negative supply and demand effects, although it is difficult at this juncture to assess the possible implications. What does all this mean for the outlook for price stability?