While it would be true that in the case of an emerging market country like India, the regulator has to be pro-active and induce supply driven innovations in payment products to bring in safety and efficiency, the same may not hold true in the case of other countries.
The winner is Stanbic Bank, mainly on account of its contribution to the volume of bids in the primary market, the competitiveness of its pricing in the auctions and the market intelligence it has supplied to the BOU. I would now like to invite the Managing Director to receive the award. Congratulations to Stanbic Bank and thank you for listening.