emphasis on safeguarding can stifle innovation and growth, while too little can expose the system to significant vulnerabilities. finding that right balance so that we can have a robust financial system that can weather crises without constraining economic progress is one of the key challenges that we face today. indeed, central banks are much like wicketkeepers in cricket or goalkeepers in footballoften unnoticed in success but always in the spotlight during failure. when everything works seamlessly, their efforts remain behind the scenes, often taken for granted. 1 / 3 bis - central bankers'speeches however, when a crisis occurs, they are asked as to how they could allow the ball to slip through their fingers! in addition, central bankers are also tasked with preventing further damage and restoring stability quickly. let me offer an analogy : imagine a person teetering on the edge of a cliff, seemingly about to fall, only to be pulled back just in time by a watchful observer. when central banks intervene in such a manner to prevent a potential crisis, those they protect may claim they didn't need saving at all. this highlights a common paradox - while regulators work tirelessly to maintain stability and avert disasters, their successes often go unnoticed, and their actions are sometimes viewed as unnecessary, intrusive or excessive by those unaware of the risks. yet it is precisely this proactive oversight that ensures the safety and soundness of the financial system, allowing it to function smoothly even in times of uncertainty. over the years, the role of central banks has significantly evolved. initially seen as the lender of last resort, today, central banks are equipped with a broad range of toolsregulatory, supervisory, and monetary - to ensure the stability of the financial system. in some countries, central banks do not have supervisory roles, with the supervision being carried out by a separate agency, but a coordinated approach is essential. governments, central banks, financial regulators, and the industry must all work together to ensure appropriate and timely action is taken to safeguard financial stability. in india, the financial stability and development council ( fsdc ), chaired by the union finance minister, along with its sub - committee led by the governor of the reserve bank, has been effectively facilitating discussions and enhanced understanding of risks across the financial sector. biannually, reserve bank publishes financial stability reports that deliver a thorough risk assessment of india's financial landscape. these reports utilise macro stress tests, sensitivity analyses, network and con

broadly. with respect to investment in equipment and software, although we do not know with certainty just how rapidly technology is changing and how much businesses are expecting to sell and produce in the future, a number of indicators can help explain recent trends and likely developments. at this point, although there is uncertainty, these indicators on balance suggest that the outlook in this sector is relatively positive. regarding nonresidential structures, the mixed indicators are a distinct improvement over the negative outlook of a few years ago. and, regarding business inventories, the recent upturn in inventory investment does not appear to be problematic, but it seems unlikely that further inventory investment will impart significant forward momentum to the economy. in short, although the economy may not experience the outsized growth rates of high - tech equipment spending or other business investment seen in the late 1990s, the fundamental features of the current u. s. economy argue for solid increases in the capital expenditures needed to produce and facilitate sales. with steady contributions from business investment, gdp growth is likely to continue expanding at a good pace, leading to further job gains and increases in family incomes. and in the longer run, the expansion of the capital stock can be expected to continue improving the efficiency of the american worker and thus to lead to additional increases in the standard of living.