On the basis of discussions in the RBI, it has been decided to prepare, in consultation with self regulatory organsiations, a Users’ Consultative Panel consisting of those incharge of compliance in the regulated institutions. The intention is to obtain feedback on regulations at the formulation stage to avoid ambiguities and operational glitches.
Brief overview and lessons from the Greek crisis In Greece, the sharp deterioration in the fiscal and the macroeconomic environment in 2008 and 2009, and the subsequent downgrades of sovereign debt and rising sovereign spreads, cut off the Greek sovereign and banks from international capital and money markets. Substantial deposit withdrawals and extremely tight liquidity conditions put strain on the banking sector.