The white paper also proposes that firms that play significant roles in critical financial markets should plan to recover their operations sufficiently so that they can clear and settle trades that have already been executed, as well as complete funds-transfer and other critical operations, on the same business day that an event occurs.
*  *  *  Dear Friends, It is my pleasure and privilege to be here with you this morning and to be sharing my experience and views with this august audience regarding India’s preparedness for Basel II implementation. I am very thankful to the organisers for having afforded me this opportunity today.