Moreover, definitive suggestions have also been offered, as for example, by Mr. Tamal Bandyopadhyay (Business Standard, April 7, 2001) "Since the liquidity support has to come from the RBI – the lender of the last resort – to ward off any crisis, ideally RBI should be made the super regulator. However, before assuming this role, the central bank must put its house in order".
Second, should the option of changing the regulatory structure be a priority now? The answer is not easy but clearly there are many areas of the regulatory system that need attention.