It is also imperative that we insulate ourselves from unscrupulous activities by strengthening the fraud detection, mitigation and control mechanism through prompt identification, investigation and exchange of information. This is necessary not just for the safety of banks but for ensuring the stability and resilience of the overall financial system and sustaining the confidence that various stakeholders have in its strength and integrity.
The extension of loans for micro-finance has ceased to be the monopoly of thrift and rural banks, as the big commercial banks are now finding out that lending to micro-finance and SME’s is very profitable. You have a great role to play here. You can connect the artisans and cottage industries to the market place.