It seems obvious that banks, which generally operate on a rather thin capital cushion, are not the institutions best equipped to carry the bulk of the systemic risks of housing booms and busts. Why not allow international investors such as insurance companies, pension funds, sovereign wealth funds carry part of the risk?
It is, indeed, very gratifying to note that besides including financial inclusion prominently in his articles, Shri Venugopal, is also working for the financial inclusion of primitive tribes of the Nilgiri district.