However, as with any public policy, it is always a work in progress with scope for improvement at any time. RBI will continue to engage with various stakeholders to improve the resolution frameworks and will also constantly adopt more sophisticated and updated risk management practices to take care of the systemic concerns that arise from the activities of the various credit intermediaries.
But others would argue that further integration is necessary to extract all the economies of scale and scope that our union brings. I am firmly in this second camp. And I am firmly among those who believe that we can better protect the interest of citizens in every country by making our Union, to use a phrase from your constitutional tradition, “more perfect”.