Eleven Indian banks,  8  BIS Review 33/2007  accounting for about 50 per cent of market share (by assets), participated in the QIS-5 exercise.
Domestically, we achieved this goal by working directly with the banking sector. Internationally, I was privileged to work through multilateral groups to raise the awareness of the international regulatory community of the nature of the Y2K challenge. Now, we can take a longer-term perspective and consider how we might facilitate innovation in the payment system.