Thus, tackling the “too big to fail”-problem is paramount to create a stable financial system. This is a well-established fact that has also been acknowledged by India. From 2015 onwards, a number of Indian banks will be classified as domestically systemically important.
We should also be unrelenting in upgrading the financial infrastructure to ensure competitive and efficient markets, enhance market discipline and protect investors. Second, ASEAN integration of capital markets provides both investors and issuers new opportunities. We can only effectively reap these opportunities by ensuring that our own market is competitive.