*  *  *  Ladies and gentlemen, I thank Her Majesty’s Treasury and DFID for organising this conference and inviting the Reserve Bank of India to share India’s experiences in achieving greater financial inclusion (FI). We, in India, have been greatly impressed by the focused attention being paid by the UK Government to the subject of FI.
We need to strike a better balance between setting standards for internationally active banks and allowing for different business models of the thousands of small and medium-sized banks in Europe. Clearly, we can only meet this task at European level. That’s why we need to move forward with proportionality within the current review process of CRR and CRD IV.