While the financial markets have so far not been tremendously agitated by it, we cannot assume that there is no damage, and it is clear that we must deal with it and that this is a challenging period.
Second, the WOS of foreign banks, on completion of a minimum prescribed period of operation, may be allowed to list and dilute their stake so that, consistent with the guidelines issued on March 5, 2004, at least 26 per cent of the paid-up capital of the subsidiary is held by resident Indians at all times.