2. In my address today, I would like to briefly touch upon the experience in and the emerging contours of consolidation in the Indian financial sector, that have taken shape over the past few decades, in the RBI-regulated entities, as a result of a calibrated policy response designed for the purpose. Consolidation in the financial sector 3.
Consolidation of business entities, through mergers and acquisitions, is a world-wide phenomenon. The numerous mergers and acquisitions all over the world, including in India, in the real as well as in the financial services sector, appear to be driven by the objective of leveraging the synergies arising from the process of merger and acquisition.