This improvement in our terms of trade may last for some time, if prices of commodities in futures markets are any indication. It has increased real wealth and income, and thus fuelled increased spending by consumers, governments, and businesses. A further outcome has been a rapid and substantial appreciation of the Canadian dollar against the U.S. dollar and, indeed, against many other currencies.
You would also be aware that in our quest for an early resolution of customer complaints, in May 2015 RBI mandated all the public sector banks and select private sector and foreign banks to appoint Internal Ombudsman (Chief Customer Service Officers).