While concerns about current global turmoil and its impact on macro-economic risks is much talked about and is also relevant, we should not be losing focus from the longer-term issues and agenda to address the welfare of our people. In my address today, I would raise some of the issues that are relevant to the banking system for sustaining our growth potential.
But, before doing that, a brief macro overview could be useful. The growth rate of 8.8 per cent average in the Indian economy during 2003-08 the highest ever recorded is only next to China, in the contemporary world.