The key point I make in this speech is that trust and credibility are key to institutions being effective in this role. [6] See Honohan (2009) for an overview of the factors that contributed to the banking crisis, including regulatory failures. [7] Partha Dasgupta (2005), “The Economics of Social Capital”, Economic Record, 81(s1).
It is designed to facilitate small value payments and will enable merchants to accept digital payments from customers in real-time using cards or any digital device especially smartphones. Another thrust under the Plus Plus agenda is the development of domestic debt markets as a viable alternative to bank funding.