17. Second in my list of challenges – or rather goals – for RBI is that it must reposition itself as a knowledge institution. The global financial crisis has forcefully revealed the enormous size and forbidding complexity of the financial sector. Some people have described the financial sector before the crisis as anti-Schumpeterian – a “destructive creation”.
An unwinding of excess savings accumulated during the pandemic could see the public and private 7 1/3  BIS central bankers' speeches  sectors competing for the same resources, driving up prices.7 Policy measures must take account of this context and avoid distorting incentives to spend and work.