Duvvuri Subbarao: Financial stability mandate of central banks issues in the international and Indian context Welcome address by Dr Duvvuri Subbarao, Governor of the Reserve Bank of India, at the SAARCFINANCE Governors’ Symposium, Kumarakom, Kerala, 10 June 2011. *  *  *  1. Financial stability has come centre stage in the post crisis scenario.
The discourse has been quite broad spectrum – ranging from first principles such as the definition of financial stability to intellectually involved issues like the implication of financial stability for growth and welfare. Although the crisis originated in the advanced economies, we, in emerging economies too have been affected by it, and indeed by much more than we had thought possible.