BIS central bankers’ speeches  7  Reserve Bank of India (2013), “Report on Trend and Progress of Banking in India – 2012–13”. Shrestha, Min B. (2007), “Role of Non-Bank Financial Intermediation: Challenges for Central Banks in the SEACEN Countries”, SEACEN Centre, Malaysia. Thorn Richard S. (1957), “Nonbank Financial Intermediaries, Credit Expansion, and Monetary Policy”, International Monetary Fund Staff Paper.
In the middle and upper wage segments there is a need to create incentives to acquire higher qualifications through appropriately rewarding vocational training. In the less skilled segment remuneration must be brought more into line with the productivity profile of the job concerned. As already mentioned, this will probably be made easier by the recent decision to amalgamate unemployment assistance and social assistance.