Let me next move on to the second broad angle, namely crisis management in a currency union. Euro and crisis management The world economy is today going through an unprecedented crisis. The crisis is remarkably symmetric: For the large majority of countries, it cuts 5-8 percentage points off their growth rate this year.
We have also created a new FinTech Department in the RBI  from January 2022 to give focused attention to this evolving and dynamic sector. The objective of this department is not only to promote innovation,  but  also  identify  the  associated  challenges  and  opportunities and address them in a timely manner.