We, in the Reserve Bank of India (RBI), deeply appreciate the gesture. Governor Toshihiko Fukui is highly respected in various central banks’ fora for his depth of knowledge, wisdom and very transparent expositions on the economy of Japan and the Bank of Japan’s policies.
Technology has lowered the cost of information processing and facilitated the growth of information bureaus, making information about households and small businesses more readily available. This information has allowed some institutions to substitute credit scoring for more costly traditional techniques in the underwriting of some types of consumer and small-business loans, particularly credit card loans.