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altDr. Y. V. Reddy, Former Governor of the Reserve Bank of India and Member of the Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System, presents the implications of the financial crisis for developing countries and more particularly for India. His presentation took place during the UNCTAD Multi-Year Expert Meeting on Services, Development and Trade: The Regulatory and Institutional Dimension, held in Geneva March 17 - 19.

Reddy presents the structure of the Indian banking system and explains why and how the impact of the financial crisis has been mitigated in India, underlining the need of a coordinative policy between the government and the monetary authority to maintain stability in the country.

He then talks about the measures that the Indian government takes to regulate the banking system, about the legal instruments it uses, and about the reform policies undertaken by India, which have contributed to the country's relative stability despite the global financial crisis.

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