Having said that, I have been asked to speak on “The Indian Banking Sector: Towards the Next Orbit”. I would like to begin with an analogy. A spacecraft needs to achieve a certain momentum before it breaks free from the earth’s gravitational pull, leaves behind the familiar and comfortable and enters into the unchartered vastness of a new orbit.
For example, higher capital requirements could slow down lending in the event of excesses on regional real estate markets. *** President, Senator Tschentscher, Ladies and Gentlemen, The European debt crisis mercilessly uncovered the imbalances in the euro area that had long been hidden. BIS central bankers’ speeches  1  It has generated huge economic costs.