With this I wish NIBSCOM and its faculty all success in their future endeavours and many glorious years ahead. Thank you once again for inviting me to be a part of your Golden Jubilee Celebrations. 1 As a locally incorporated bank, the wholly owned subsidiaries (WOS) are given near  national treatment with some exceptions. Refer RBI Press Release November 6, 2013.
This is in line with our forward guidance and adequately reflects the outlook for the euro area economy, as well as the differences in terms of the monetary policy cycle between major advanced economies. The targeted longer-term refinancing operations (TLTROs) that are to take place over the coming months will enhance our accommodative monetary policy stance.