For those living in reserve-issuing blocs, the enhanced ability to issue domestic-currency liabilities to foreign investors helps to underpin financial stability. At a global level, to the extent that a world of multiple reserve currencies is also a world of multiple funding  BIS central bankers’ speeches  1  currencies, the current tension between trade-weighted and financially-weighted exchange rates is mitigated.
Way forward On the way forward the challenges are going to be banks using multiple channels for delivery of variety of financial services, developing synergies with MFIs and SHGs by introducing seamless ICT based models linked to such intermediaries, availability of skilled manpower to facilitate the adoption of IT on such large scale, use of IT for credit information and efficient credit delivery and risk management in a much bigger way, moving away from the use of cash and emergence of enough leaders in the banking system especially in the public sector banks/RRBs and cooperative banks to recognize the opportunities and take advantage of their specific strengths including location.