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Inaugural Address at the 26th Biennial Conference of The Bank of Maharashtra Officers' Association, January 26th 2013
From the paradox of sustainable growth, structure of global growth the talk examines the design of fragile financial systems. It makes a plea for the design of responsible banking systems.
Global pressures for growth have concentrated global ownership of growth in a few nodes. Failure of one node quickly brings the global economy crashing down. The UID with its concentrating and connecting the financial network across the Indian economy promises high likelihood of destroying the resilience of the Indian financial system.
Responsible banking systems will focus on the borrower and lender relationships and ways to sustain it rather than ways in which this relationship will vanish and destroy banking.