Rules of collaboration would need to be worked out to make this work. International oversight: the scope A very important response of the G20 was the establishment of the Financial Stability Board, an institution with wider representation than the Financial Stability Forum. In this regard there is a question of the scope of the Board.
In India, we had strengthened the banking sector to face the pressures that may arise out of globalisation by adopting the banking sector reforms in a calibrated manner, which followed the twin governing principles of non-disruptive progress 1 and consultative process . Global challenges in banking 4. Recently I was afforded an opportunity to speak on the challenges faced by the Indian banking industry.