15  See Tobias Adrian and Hyun Song Shin (2009), “Money, Liquidity, and Monetary Policy (230 KB PDF)”, American Economic Review, vol. 99 (May), pp. 600–05. Some would argue that the conduct of macroprudential and monetary policy should be closely coordinated, even integrated, because of the spillovers I described.
The banking system today is very robust and is poised for broader reach and better service. The number of operating banks as of March 2017 is 599 (head offices) with an overall branch network of 10,679 units. Assets of the banking sector also grew by nearly 12.42% percent yearon-year as of December 2016 boosted by an increase in deposits, profits, and fresh equity.