The lack of a consistent policy from major economies is the main source of volatility.

I think India's policy that the openness of trade should be carried through a multilateral process is the right one.

From the RBI side, the fake Indian currency note is an important issue that needed to be addressed. The other collateral benefits from this, in terms of greater accountability, better public finance, more transparency, are, by definition, areas that take time to fully play out.

Never think that lack of variability is stability. Don't confuse lack of volatility with stability, ever.

The major economies are not American anymore. They are Asian and South American.

Roger was the major policy maker during 9/11.