It is equally important to provide the financially excluded people with products that are relevant. But, more importantly, it is the banks which have to serious in delivering affordable products and services in a profitable and viable manner. Recently the world population has crossed the seven billion mark and India accounts for 18% of this share.
Increasing capital buffers; establishing resolution regimes; reducing systemic relevance of banks, are some of the important recent initiatives designed to make banks healthier. Thanks to these measures, banks will be better positioned to absorb losses and become less dependent on government support. And thanks to these measures, trust in the financial sector will eventually be restored. I therefore wholeheartedly support these initiatives.