In refreshing contrast, in India, we have had remarkable financial stability, not fortuitously, but thanks to pre-emptively and pro-actively delivered prudential measures like increase in risk weights for exposures to commercial real estate, capital market, venture capital funds and systemically important non-deposit accepting Non Banking Finance Companies (NBFCs).
This will be followed by more granular expectations in managing climate change and other environment-related risks in relation to key financial risks such as credit and operational risks. Our team is already completing the assessment of comments received on the draft guidance and we are targeting to publish the issuance by the fourth quarter of this year.