What I will attempt to do is to provide my interpretation of the unfolding of the present global financial crisis; how it is affecting us; why the Indian financial sector has been able to weather the crisis relatively well; the analytics of our policy response; and, finally, some implications of its longer lasting effects. I.
Global financial crisis  Genesis of global financial crisis The proximate cause of the current financial turbulence is attributed to the sub-prime mortgage sector in the USA.