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Consolidated accounting and supervisory techniques would have to evolve and appropriate firewalls built to address the risks underlying such large organisations and banking conglomerates.
Will the stable conditions continue for the banks?
The big question we have to ponder is whether these stable conditions marked by all round improvement in banks' performance can continue into 2005 onward in the light of potentially dramatic changes that include, among others, a sliding dollar, rising interest rates, introduction of Basel II accord and international accounting standards, and the possible flattening of consumer lending boom. Hopefully, the banking industry in tandem with the regulatory authorities will rise to the occasion, and collectively face the challenges and opportunities that lie ahead.
Thank you.
Concluded.
* Speech delivered by V. Leeladhar, Deputy Governor, Reserve Bank of India to Kanara Chamber of Commerce and Industry, Mangalore on March 11, 2005.
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