If the level of expenditure consolidation we have seen in Greece were applied in Germany, it would be equivalent to a permanent reduction in public spending of 174 billion euro. That is more than the total sum of social spending. Greece has also made important progress in addressing the long-term fiscal challenges linked to its ageing population.
RBI has recently released a report on Information Security, Electronic Banking, Technology Risk Management and Tackling Cyber Fraud. The Group that has prepared the report has delved into various issues arising out of the use of Information Technology in banks and made its recommendations.