Some of the important factors that shaped the changes in monetary policy framework and operating procedures in India during the 1990s were the delinking of budget deficit from its automatic monetization by the Reserve Bank, deregulation of interest rates, and development of the financial markets with reduced segmentation through better linkages and development of appropriate trading, payments and settlement systems along with technological infrastructure.
The adoption of this bidding process offered transparency that further fortified AFI as a credible organization. Today, we continue laying the foundation of our work toward our independence. In this meeting:   Members will be provided with an overview of the AFI independence process, with a presentation to be made by Superintendent Daniel Schydlowsky of Peru.