The CAFRAL conference on Banking Structure for India[1] has produced several useful insights and generated useful markers for a sound policy on banking structure and regulation. The speech by the Governor to the Competition Commission of India earlier in May set the tone. Then, we have also had the P.J. Nayak Committee report on the state of governance of Indian banks. The CAFRAL conference too has generated ideas on the subject. The decision that faces policymakers is a challenging one. They need to determine certain principles that will help them cut through arguments, counterarguments, and the intellectual clutter surrounding the banking structure. Obviously,.............
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