<h1>India's Deputy Governor Highlights Capital Account Convertibility as a Process, Emphasizes Risk Management and Economic Stability.</h1> India's Deputy Governor of the Reserve Bank addressed the importance of capital account convertibility, emphasizing it as a process rather than an event. The speech highlighted the benefits and risks of capital mobility, noting the need for sound macroeconomic fundamentals and appropriate tools to manage risks. India has gradually liberalized capital inflows, focusing on foreign direct investments and regulating portfolio investments to safeguard the economy. The speech also discussed future considerations, such as integrating onshore and offshore markets and managing non-resident access to government securities, to enhance the internationalization of the Rupee while maintaining economic stability.