After this broad overview, allow me to illustrate some specific developments in particular market segments, also with reference to the recent episode of financial turbulence. In this context, a pertinent question is whether the financial market turmoil has had an impact on the degree of integration in various market segments.
Late Shri K P Hormis, the founder of the Federal Bank, was a great institution builder who recognised early the critical role of entrepreneurs in an economy, the importance of banks in providing finance, particularly to small scale entrepreneurs, and the need for prudence in banking business to preserve financial stability. 2.