A High powered Committee has also been constituted in the Reserve Bank which has the responsibility to ensure time bound and effective implementation of these recommendations. BIS central bankers’ speeches  7  Conclusion 43. In conclusion, I would like to say that banks need to take a disciplined approach to IT architecture, create standardised platforms, and wring more business value from technology investments.
In fairness, the best place to see this is in the national accounts data, which are so far available only through the third quarter of 2016. All of this matters because persistent excess capacity puts downward pressure on inflation, raising the risk that we will continue to fall short of our inflation target.