There has been criticism of our approach in not recognizing mono product offerings from service providers like telcos (remittance) and MFIs/SHGs (credit) as part of the mainstream financial inclusion process.
It also needs to be recognized that there will be feedback effects from overseas economies and markets which will influence domestic economic and financial conditions. Forums such as the BIS have played critical roles in enhancing central bank communication and cooperation over the years. Their importance will increase further in such an environment. 1  Independent Evaluation Office of the International Monetary Fund.