The 10 challenges & concerns I would focus today are: (i) propelling revival of domestic growth; (ii) controlling persistent inflation; (iii) mitigating external sector vulnerabilities; (iv) deepening the financial markets; (v) maintaining a robust banking system; (vi) ensuring integrity of the financial system; (vii) building efficient government banking business models; (viii) moving towards a less-cash society; (ix) better customer service orientation of banks and (x) enhancing the quality of financial inclusion.
I.  Propelling revival of domestic growth  2. Several structural and transient factors, both global and local, have stymied the growth drivers in India in recent times. Given the persistence of inflation, challenge for Reserve Bank of India has been how to address growth risks without losing control over inflation.