As a related issue, before the crisis it was frequently argued that a financial system with welldeveloped capital markets, in addition to a sturdy banking system, was more robust to a shock than a bank-centric financial system, since both the bank channel and the capital market channel worked in a complementary manner. 17 It seems, however, such a view needs to be reconsidered.
3.3 The growth of internet and accessibility to the world at large from a PC at home or office not only brought about a revolution in access to information but the related developments in technology also heralded the emergence of e-payments/e-commerce.