The recent crisis has, in fact, underscored the need for reducing banks’ reliance on wholesale deposits and borrowed funds and cultivating a retail portfolio of assets and liabilities for financial stability. The current policy objective of inclusive growth with financial stability cannot be achieved without ensuring universal financial inclusion.
Conditions necessary for the development of capital markets Institutional infrastructure One of the factors which is most important in the deepening of capital markets is the institutional infrastructure - that is, the legal, taxation, and accounting systems.