At the same time, if there is scope for further relaxation in the existing facilities, Reserve Bank of India can certainly consider that as well. Let me now turn to the last part of my address, the derivatives market development in the Indian context. C.  Market development in India – forex derivative segment  21.
To further validate our estimates, we recently adapted and employed two more models: the basic multivariate filter (BMVF), proposed by Blagrave et al. in 2015, and the multivariate state-space framework (MSSF). The latter is an enhanced version of the BMVF that is sufficiently flexible to incorporate a range of assumptions about economic relationships.