MUMBAI, India, Nov. 7 -- Reserve Bank of India issued the following press release:
The Financial Sector Assessment Program (FSAP), a joint program of the International Monetary Fund (IMF) and the World Bank (WB), undertakes a comprehensive and in-depth analysis of a country's financial sector. Since September 2010 the exercise has become mandatory for jurisdictions with systemically important financial sectors. Currently, it is -mandatory for 32 jurisdictions, including India, to be conducted every five years, and for another 15 jurisdictions every ten years. As per the practice, as a concluding part of the FSAP, the IMF comes out with Financial System Stability Assessment (FSSA) report and the World Bank brings out the Financial Sector As...