In India, in some instances, regulation, monitoring and supervision are combined with business or commercial relationship as in the case of National Bank for Agriculture and Development (NABARD) or Small Industries Development Bank of India (SIDBI).
FLAReS allows us to perform all these with relative ease and accuracy. Conclusion I have, on a number of occasions in the past, said that the Philippines managed to “survive” today’s crisis, because we purposed to invest in the reforms yesterday…. And today, ladies and gentlemen, we add FLAReS to the list of governance reforms we have instituted.