5  See E. Santor and L. Suchanek, “Unconventional Monetary Policies: Evolving Practices, Their Effects and Potential Costs,” Bank of Canada Review (Spring 2013): 1–14. 6  We define the neutral rate as the policy rate that will prevail after the effects of all cyclical shocks have dissipated.
*  *  *  It is indeed very heartening to be here at this WIPRO-NDTV Convergence Conference on “Vision 2020 – Indian Financial Services Sector”. I thank the organizers for inviting me here today. Introduction The banking system has grown enormously in the last five years keeping pace with and in some cases leading the country’s remarkable economic growth.