The presence of foreign banks in the country has been very useful in bringing greater competition in certain segments in the market. They are significant participants in investment banking and in development of the forex market.
It gives me immense pleasure to be on the campus of the Indian Institute of Management. I accept in all humility the award of the title “Fellow of the Indian Institute of Management”, Ahmedabad. What can be a greater honour than the recognition by one’s own peers and family?