Even as we have embarked on a measured pace of financial liberalisation, we have ensured that we have a well-capitalised financial system by international standards, with low levels of loan delinquency. Our financial markets are orderly and smoothly functioning and the ability of our financial intermediaries to deal in various segments of the financial market spectrum is improving almost continuously.
Hence, they help safety net agencies to comply with their mandates. The specific mandates of safety net agencies and the operational constraints that they face imply that each of them specializes on the oversight of specific dimensions of financial risks.