The intention is to streamline the authorisation process by eliminating duplication, standardising industry documentation, identifying applications, which can be fast tracked and ultimately reducing the timescale from concept to final authorisation. We hope to finalise a position paper on this matter in the coming weeks. Allfirst The system of regulation continues to be refined and honed in the light of experience.
(ii)  This global downturn is likely to be a prolonged one. If banks do not recognise their problem loans here and now, and deal with them expeditiously, the problem will only get compounded with the passage of time and will keep haunting them in future. (iii)  The prudential regulatory norms ought not to be changed lightly, especially when markets are on edge.