For some time economic thought - and not it alone - has underscored that the properties of efficiency of the markets in an economy cannot be considered ignoring “social capital”, defined as the body of institutions, social norms and trust and reciprocity in formal and informal networks of relations that foster collective action and are a resource for creating welfare.
I thank ASSOCHAM for giving me the opportunity to share my perspectives on Financial Frauds and wish the conference all success. 38. 6  Thank you very much for your patient attention. BIS central bankers’ speeches