The reasonable success in managing these uncertainties while adding to forex reserves with marginal addition to total external debt but maintaining both reasonable overall macro-economic stability and pace of reform in financial sector has some tentative lessons to offer. First, stable and appropriate policies governing overall management of the external sector are important.
New entries have arrived in the landscape of financial services; Fintech is a portmanteau word meaning any application of digital technologies to finance. Under this label we can include both giants of the digital world wanting to enter the financial market and tiny start-ups whose ambition is to erode the market power of the incumbents.