Continued high growth could turn out to be inflationary in due course of time; hence, the Reserve Bank has been putting greater emphasis on analysis of monetary and credit developments in the recent past.
In the debate on ethics and finance hosted by the IMF on 12 October, which I referred to earlier, Bank of England Governor Mark Carney spoke of how finance, over time, became much more transactional rather than relational – in a word, the growing number of intermediaries tended to break the connection between the original service provider and the end-customer, which had earlier formed the basis of trust-building in the industry.