Although global experience – with financial stability as an added policy objective – is still evolving, the Reserve Bank has always been giving due importance to financial stability risks through active use of macro-prudential policy tools. 10. The FIT framework has served us well since its inception in 2016  even as the economy faced a sequence of shocks in this period.
During the transition phase, great care should be taken in order to avoid that governors of certain NCBs move randomly up and down between certain groups. 2.2.2. Number and Composition of Groups, voting rights, composite indicator and representativeness  •  Two-group versus three-group models. A long debate went on concerning the number of groups and their composition.