I will start by discussing the issue of full dollarization of an economy, that is the replacement of the national currency by a foreign currency, a process that has taken place in recent years in both El Salvador and Ecuador.
In this context, I must commend the AIBEA, which is the oldest union of the bank employees in India, for the commanding role it has played in making the services of bank employees respectable, that too, at a time when banking was in private hands.