In part this reflects the heavy incidence of food in their consumer-price indices, but in many cases it also derives from loose monetary conditions due to such factors as fast growth of money and credit aggregates and the choice of the exchange rate regime. These developments are impacting on inflation at the global level and call for appropriate policy measures.
In the second part I would be touching upon the initiatives taken by IDRBT and the areas and technologies that the banks should set their focus on. In the concluding part I would be speaking on the initiatives taken by the Reserve Bank of India in the area of Information technology.