While recognizing that change is itself difficult, we have nonetheless moved forward in putting in place a risk-based supervisory approach where minimum prudential standards are set, behavior and conduct are monitored but the day-to-day strategic & operational decisions are clearly vested on the banks in the context of their fiduciary responsibilities and their governance mandate as good corporate players.
We have earlier shown the committee Mr. Chairman the capital adequacy position of our universal & commercial banks, setting the bar higher than the Basel Accord. Over and above that, we now have a core of dedicated specialists who are individually assigned to oversee specific institutions and have the technical expertise & training required for this critical function.