What is the black swan event?

Nassim Nicholas Taleb, a finance professor and former Wall Street trader, initially proposed the black swan hypothesis in 2001. According to a Reserve Bank of India assessment, India might experience capital outflows of up to Rs 7,80,000 crore in the event of a significant global risk scenario or "black swan" occurrence. Taleb's book focuses on developing "robustness" in systems and methods to deal with black swan occurrences and resists their impact rather than trying to outline a strategy to forecast such events. This rare sighting from the 17th century, which completely altered how the West thought about swans, is the source of the term "black swan event."