I would like to follow up on that and – given that, as a member of the Basel Committee, I was involved in the negotiations – say a few words from my own perspective as well.
Thus, the current thrust to improve credit-delivery may soon face limits unless the legal and institutional changes are agreed upon and acted upon in good faith in a timely fashion. It is the fervent hope of RBI that a consensus will develop soon on these fundamental changes that are essential for achieving the broad policy objectives.