Take, for instance, the growing importance of intangible and non-marketable assets, such as intellectual property rights or goodwill. Another example is the valuation of long-term flows of income or expenditure, such as pension liabilities, which are inherently difficult to predict. In addition, complex instruments for risk transfer and new corporate structures test the limits of existing measurement and valuation techniques.
One of such efforts is to recognize performance and it is heartening to note that NPCI has constituted the “National Payments Excellence Awards” to identify and reward the member banks for their performance on the network. The awards are in several categories, separate for big players and not so big players. My hearty congratulations to the awardee banks and their staff.