Hence, its exposure to volatility in growth patterns across the world is limited than most EMEs. Higher GDP growth in India during last three years has also seen a rise in savings rate from 23.5 per cent in 2000-01 to 29.1 per cent in 2004-05. A significant turn around in public sector savings has been a major cause for the increase in domestic savings.
We have to discuss this important issue in the Basel Committee, recognise that there are no risk-free assets and calibrate the rules properly. Sensible rules and adequate transition periods can help mitigate all related risks. BIS central bankers’ speeches  3