I believe that significant opportunities lie ahead for our banks to leverage on these three components to attain true banking productivity and efficiency i.e. both operational and allocational. On the technology front, our banks have already implemented certain basic technology and are all on CBS. They are, of late, also making efforts to incorporate new technology mediums in their delivery channels.
This would imply operating in as broad a market segment as possible and avoiding targeted assistance to specific industries or firms.3  2  It is important to note that the latter would involve a net expansion of the central bank's balance sheet, but without any increase in reserves. In contrast, quantitative easing involves expanding the reserve base available to the private sector.