The Dr. Nachiket Mor Committee is helping us think through possible models, and I am hopeful that when we outline measures based on its recommendations, our fine banks, NBFCs, IT companies and mobile players will rise to the occasion. The key will be to encourage entities to compete to serve the customers at the bottom of the pyramid.
We should tolerate their making profit but not profiteering, and we will enhance our efforts in consumer protection and consumer literacy accordingly. And last but not the least, we have to deal better with distress; We have to ensure that the system recognizes financial distress early, takes steps to resolve it, and ensures fair recovery for lenders and investors.