Meanwhile, financial institutions cannot shy away from improving their cost structure in meeting their profitability goals, and here again, FinTech can make significant contributions. For example, it is a well-known fact that the return on equity (ROE) of financial institutions is materially higher in the Nordic economies, where online banking is prevalent and branch network density is generally low.
I sincerely appreciate BCCI and FIMMDA for taking the initiative in organising this seminar, where, I am sure that the participants would take this opportunity to discuss in detail the various issues pertaining to strengthening the CP market. The Reserve Bank would welcome suggestions for further development of CP market.