The Parliament passed the Indian Statistical Institute Act, 1959 which declared the Institute as an “Institution of National Importance” and empowered it to award degrees and diplomas in Statistics. The first computer of the country was installed in ISI in 1960. Subsequently, ISI made significant contributions to the development of advanced numerical algorithms.
As a matter of fact, price stability is a necessary condition for financial stability, in that asset prices and financial volumes are bound to reflect and amplify erratic swings in inflation expectations – if and when a central bank allows these to happen. But price stability is not a sufficient condition for financial stability.