Such a free entry may be appropriate for any other segment of goods and services, not for ‘banking’. Every other good or service is primarily a one-off transaction, whereas banking is a continuing relationship, and 6/7  BIS central bankers' speeches  therefore “fit and proper” criterion is of utmost importance and consequently, “free entry” based on tick-box exercise is totally anti public safety.
Conclusion 42. To conclude, India has been enjoying a very healthy evolution of payment systems over the past thirty years. In looking back, we can easily admit that it had been a revolution, without being so realising.