This sort of an intervention may force the banks to focus more on appropriateness of selling strategies and product development. The pricing freedom conferred on banks will continue to be in place but would be ring-fenced with a lot of responsibility towards the consumers. 30. In the Indian context, we additionally have the twin challenges of financial inclusion and financial education.
This can no longer happen. This increasing resilience is illustrated by the fact that the major shocks of the last ten years have not played an important role in the dispersion of output growth. In other words, they have not contributed to the economic diversity that I will now go on to discuss. BIS Review 89/2008  3  2.