So what can we do? There are three things we have to work on: 1. Prevention  2. Damage limitation if and when things go wrong, and  3. Communications. In the case of prevention, I believe that we as a sector are going to have to focus more on security and availability.
Under this approach, besides monetary aggregates, a host of forward looking indicators such as credit, output, inflation, trade, capital flows, exchange rate, returns in different markets and fiscal performance constituted the basis of information set used for monetary policy formulation. The enactment of the Fiscal Responsibility and Budget Management (FRBM) Act in 2003, by introducing fiscal discipline, provided flexibility to monetary policy.