Sushma Vij and Ms Geeta Nair in preparation of this address is gratefully acknowledged  Mr. James Crabtree, Chief Mumbai Correspondent, Financial Times, Mr. Uttam Nayak, Group Country Manager, South Asia, Visa Inc, Mr. Thomas Davenport, Director, South Asia, IFC, Ms. Nirupama Soundararajan, Additional Director, FICCI, Ms. Jayshree Vyas, Managing Director, SEWA Bank, distinguished guests, members of the press, ladies and gentlemen.
“... but the difference in capital requirements imposed on retail banking may have greater implications for banks.” However, in my view the fundamental difference between the two proposals is the difference in capital requirements. –  ICB imposes an extra capital requirement on the ring-fenced retail bank (~deposit bank).