Given the then prevailing adverse environment for free use of technology in the banking sector, the Reserve Bank carefully crafted an acceptable foundation and path for its adoption and increasing usage, thanks to the Rangarajan Committee 1 and Rangarajan Committee 2 in 1980s, Saraf and Barman Working Groups in 1990s and 2000s, besides establishing the IDRBT in 1996.
The too-bigto-fail problem could be mitigated if smaller, dynamic firms seized market share from less nimble incumbents. This is no pipe dream in 2010. Many old relationships between firms and clients were uprooted during the crisis. Customers – institutional and retail – are seeking new ways of doing business and new firms with which to transact.