Banks are interlinked through all sorts of other channels. Not least, during the financial crisis, in order to prevent contagion, in particular, governments also gave support and assistance to many investment banks or – as I would call them – quasi-investment banks.
Using technology to the hilt is the mantra and I believe data warehousing and data mining are more in the nature of knowledge management rather than connecting disparate data elements. This is being done successfully by banks overseas. Why cannot our banks do so in India? As a typical central banker, I would add just one word of caution here.