Adequate bank supervision and financial markets oversight are required to ensure that sufficient weight is given to risk control. Foreign ownership may help to transfer certain specific banking skills to candidate member states, even though I do not favour a big January sale of financial institutions in the countries concerned.
The recession, while slowing down the global demand for goods and services, should not impact the sector, so adversely, as there is a huge demand  BIS central bankers’ speeches  1  in the local markets which could be tapped and the depreciation of the rupee has improved their price competitiveness of exporting firms in the sector.