*  *  *  Inputs from Shri B Sambamurthy, Director, IDRBT and the assistance provided by Nikhila Koduri, Radha Somakumar and Saswat Mahapatra in the preparation of this speech is gratefully acknowledged. Distinguished ladies and gentlemen, I am honoured to be invited to deliver the key note address at the 6th edition of the ET Banking Technology Conclave.
However, a model based approach has not always given the banks the safety level which they might have expected. The recently experienced losses of banks demonstrate what should have been already known that risk models are not an instrument to predict future developments.