I don’t think growth is as much a challenge for the retail banks in developing economies as in the developed economies. Even with our concerted efforts on increasing the banking penetration and bringing more and more adult population under the formal financial system over the last 6–7 years, more than half of the target population remains uncovered.
Introduction Ladies and gentlemen Ten years ago, back in spring 2007, the US subprime bubble was bursting. In May 2007, there were some early signs foretelling the escalation of the crisis in summer 2007. Many of us remember August 2007, when interbank interest rates skyrocketed and money markets dried out.