We need to give a thought about this and provide workable systems at the earliest if we have to retain the customer within the fold of the banking system. Developments in IT have also brought along a whole set of challenges to deal with.
The latter include the effects of UMPs on capital flows to and outflows from emerging market economies (EMEs), and the related macroeconomic and financial stability challenges; the implications for financial stability of prolonged periods of low interest rates; the potential impact on inflation of exceptionally easy monetary policies; the challenges for central banks resulting from the fundamental change in the size and composition of their balance sheets; and of course, as evidenced by recent events, the difficulties related to exit from UMPs.