The second development that has provided a boost to retail banking aspiration of banks is the availability of enabling technology. Since retail banking requires mass production techniques, the advent of technology has enabled the banks to design appropriate technology-based delivery channels. Retail banking has also received a thrust from the regulators/policymakers’ push for inclusive growth in the wake of the global financial crisis.
2  BIS Review 43/2010  As regards fiscal policies, it is now essential that governments reduce budget imbalances and correct excessive deficits by the agreed deadlines. In a number of euro area countries, fiscal consolidation will start this year and in all others corrective measures will need to be in place by 2011 at the latest.