I am sure that each one of you present here today will agree that a sound corporate governance framework is the linchpin for the effective functioning of any organization. This is even more critical in the financial services industry dealing with massive funds. History is littered with examples of failures of institutions, including venerable ones, due to poor corporate governance practices.
Our governance structure needs constant adaptation to changes to ensure its continued relevance. It cannot be a one-size-fits-all approach. I am happy to see that members of the National Governance Committee are also present. It serves us as a stark reminder that the perennity of any organization cannot be ensured in the absence of an adequate system of corporate governance.