But output overall still appeared to be expanding at a moderate pace; jobs and incomes, although rising less rapidly than before, were still advancing reasonably well, supporting sustained expansion in household spending; and businesses had successfully worked off the overhang of inventories that had emerged at the end of 2006. In addition, strong demand from abroad was providing considerable support to our exports.
While the average Indian customer may be as technology savvy or even better than his Western counterpart, the cultural aspects of his relationships may necessitate a personal touch to the offerings of banks.