1  MPD Data of major 47 banks as on Mar 23, 2012. BIS central bankers’ speeches  5  Is this necessary? 19. Definitely Yes. After nationalization, the task of financial inclusion was considered, primarily, to be the responsibility of public sector banks alone. However, over the years, it has become evident that public sector banks alone cannot deliver on this mandate.
In my view, financial integration remains not only a fact and necessity of today’s financial markets, but an irreversible process, a process that we do not wish to reverse. Instead, we need a more resilient financial sector! BIS central bankers’ speeches  1  For this, we need financial integration and sound policies guarding our markets.