Yet, a successful implementation of this paradigm requires asking some basic but fundamental questions for each industry in terms of “What do I offer?”, “What are my key competencies?” and “What are my weaknesses?” Is it the cost control centric rather than value addition centric approach of Indian industry that is to be addressed first?
These rules are mainly geared towards large banks with international ties, which is not exactly surprising considering these banks were the ones at the epicentre of the crisis. In Europe, however, the international standards since Basel I have been applied to all banks. In this sense, we have a single rulebook for the EU that is designed to guarantee a level playing field.