We are from the financial sector and hence most of my comments will be with reference to the financial sector, more specifically to the banking sector. Credit cooperatives were the first to come within regulation. The proposal for agricultural banks was first mooted as long back as in 1858. Several Committees had been recommending constitution of Agricultural banks.
In particular, under the current circumstances where there is a wide range of uncertainties regarding the outlook of overseas economies – not to mention the outlook for the European debt problem – we need to closely monitor developments including the accelerated outward shift of Japanese firms to overseas and the decline in medium- to longterm growth expectations.