***  By way of concluding my introductory remarks, I would like to stress two points. First, as regards euro area policies, persistent wage growth differentials, induced by structural inefficiencies or misaligned national policies, including wage-setting policies, might have adverse implications for the cost competitiveness of individual countries.
Most Scheduled Commercial Banks in India have either already migrated or are in the process of migrating to Core Banking Solutions (CBS). In this context, data integrity and data validity would be of critical importance especially due to data intensive requirements of IFRS converged standards.