So the Deposit Guarantee Fund can be invoked only after extremely large losses in a bank, including loss of all senior debt and uninsured deposits. Hence, the relevance of EDIS is linked to banks funded almost exclusively by deposits covered by a deposit guarantee.
The debate was only about the appropriate strategy – sequencing and timing, in particular – for transitioning to full capital account convertibility. China and India •  Let me invoke the example of India. Moving towards full capital account convertibility has always been our policy goal.