Boards or auditing systems are not very effective. So, in all the segments, and all different sizes of institutions, we have a great deal of work to do in the area of Corporate Governance. RBI has been working on new accounting, auditing and disclosure standards. Work is also in progress in setting better internal auditing and better system of checks and balances.
A Committee of Ind. Dir. has also been set up under Dr. Ganguly, Member of the BFS to learn from the past experience. RBI and other regulators would do their best to bring about better standards, but ultimately it is upto the individual institutions, and the people managing them to ensure what actually happens on the ground. Let me conclude.