I feel thankful and humbled for this opportunity as an occasion to remember personality like Shri R.K. Talwar given his contribution to the banking industry. India recently celebrated 75 years of its independence and during this period, our country has witnessed a transition to a promising and prominent force in the new global order.
Via the EFSF, additional safeguards to the value of € billion are to be provided for a transitional period, so that the Eurosystem could then accept Greek bonds as collateral, even if they were to be downgraded to “selective default”. We are not the IMF of Europe.