In due course, consolidated supervision as introduced above would evolve to cover banks in mixed conglomerates, where the parent may be non-financial entities or parents may be financial entities coming under the jurisdiction of other regulators.
Application of advanced technology The role of technology in banking in creating new business models and processes, in maintaining competitive advantage, in enhancing quality of risk management systems in banks, and in revolutionising distribution channels, cannot be overemphasised. Recognising the benefits of modernising their technology infrastructure, banks are taking the right initiatives.