We have actively introduced non-bank players in the issuance of prepaid payment instruments (PPI), including mobile and digital wallets, besides the setting up of White Label ATMs (WLA) to bridge the gap in ATM infrastructure particularly in rural and semi urban areas.
I agree that equity capital plays a key role in preventing financial firm failures, and we have raised equity capital requirements for banking organizations – especially GSIBs – substantially since the crisis. But to protect financial stability, we must reduce not only the probability that a GSIB will fail, but also the damage that its failure could do if it were to occur.