It's an understatement to say that the past few years have seen major global economic changes and financial system developments. First, we are emerging from two years of a global pandemic and the resulting health and economic impacts. Less than a year has passed since Canada's economy fully reopened, and parts of the world-China, most notably-are still enduring lockdowns.
Institutional Arrangements Standing Committee 4.1 In order to facilitate positioning of international financial standards and codes in relevant areas of the financial system in India and to guide the overall process of implementation of appropriate changes in respect to various segments of the financial system, the Reserve Bank of India in consultation with Government of India, in December 1999, constituted a ‘Standing Committee on International Financial Standards and Codes’ under the Chairmanship of Deputy Governor, Reserve Bank of India and Secretary, Economic Affairs, Government of India as Alternate Chairman.