* * * Dignitaries on the dais; distinguished colleagues from the banking fraternity; members of ASSOCHAM; representatives from the print and electronic media; ladies and gentlemen! At the outset, I would like to compliment ASSOCHAM for the effort in bringing the bankers and the borrowers together on a common platform to enable discussions on various issues of relevance to the MSME sector.
In line with other emerging economies, the rand exchange rate has been relatively volatile over this turbulent period, although it has recovered significantly since the lows seen in late 2008.