As the Report on Trend and Progress of Banking in India is a statutory report, the question arises whether we need to introduce an additional financial stability report, or we need to couch the contents of this report suitably, so that it effectively becomes the financial stability report.
8/9  As far as the monetary policy committees are concerned, it may be noted that the Advisory Group on ‘Transparency in Monetary and Financial Policies’ (for the Standing Committee on International Financial Standards and Codes), with Shri M. Narasimham as Chairman and Shri S.S. Tarapore as a member, recommended setting up of a monetary policy committee in RBI.