causing inconvenience to customers in filing income - tax returns timely. with a view to protecting the interest of the depositors and for rendering better customer service, banks have been advised to provide tds certificate in form 16a, to their customers in respect of whom they ( banks ) have deducted tax at source. banks have been advised to put in place systems that will enable them to provide form 16a to the customers within the time - frame prescribed under the income tax rules. • guidelines for the purpose of opening / operating bank accounts of persons with autism, cerebral palsy, mental retardation, mental illness and mental disabilities • need for bank branches / atms to be made accessible to persons with disabilities banks are advised to take necessary steps to provide all existing atms / future atms with ramps. care may also be taken to make arrangements in such a way that the height of atms does not create an impediment in their use by wheelchair users. however, in cases where it is impracticable to provide such ramp facilities, whether permanently fixed to earth or otherwise, this requirement may be dispensed with, for reasons recorded and displayed in branches or atms concerned. banks are also advised to take appropriate steps, including providing of ramps at the entrance of bank branches, wherever feasible, so that the persons with disabilities / wheel chair users can enter bank branches and conduct business without difficulty. banks have been advised to report the progress made in this regard periodically to their respective customer service committee of the board and ensure compliance. • talking atms with braille keypads to facilitate use by persons with visual impairment banks should make all new atms installed from july 1, 2014 as talking atms with braille keypads. banks should lay down a road map for converting all existing atms as talking atms with braille keypads and the same may be reviewed from time to time by the customer service committee of the board. magnifying glasses should also be provided in all bank branches for the use of persons with low vision, wherever they require for carrying out banking transactions with ease. the branches should display at a prominent place notice bis central bankers ’ speeches about the availability of magnifying glasses and other facilities available for persons with disabilities. dr. rajan recently stated “ we have to reach everyone, however remote or small, with financial services. it means financial literacy and consumer protection. i should emphasize the need for banks like the ones

increase liquidity by dropping currency from the proverbial helicopter. 3 surely, doubts are justified as to whether this would be as effective as conducting auction - based repo transactions with robust banks. second, a stable financial system with solid banks is of great importance for the development and growth of the economy. in switzerland, for instance, the financial sector contributes nearly 15 % to gdp and is therefore the most important industry in the economy. 4 moreover, according to a recent study, the financial sector in switzerland has in recent years contributed as much as 50 % to economic growth. 5 the financial sector also provides essential inputs and services to all other industries. here, i am thinking primarily of the banks that provide credit and liquidity to private households and firms. the devastating consequences of an unstable banking system have been demonstrated, for instance, by federal reserve chairman ben bernanke in a series of seminal papers about the great depression. 6 a third and perhaps more subtle reason why we as central bankers care about financial stability relates to the role of central banks as lenders of last resort. due to their monopoly as issuers of money, only central banks can provide a virtually unlimited amount of liquidity in times of distress. this fact inevitably confronts central banks with potentially large liabilities. in order to limit the risks to ourselves and ultimately to the economy as a whole, we have strong incentives to limit the size of these potential liabilities. moreover, we want to limit the probability that these potential liabilities materialize in the first place. simply put, through our lending of last resort function, we provide disaster insurance to banks. in return, we want to the sfbc was founded in 1934. this was at least in part a response to the banking problems experienced during the great depression, which affected switzerland particularly hard. see milton friedman, 1969, the optimum quantity of money and other essays. comparative gdp figures are difficult to obtain. nevertheless, comparing the banking sector ’ s total assets with total gdp provides some clue about the banks ’ importance. in switzerland, the ratio of total banking assets to gdp is 10 %, in the us 1 %, in the uk 3 %, in germany 3 %, and in japan 2 %. seco, 2006, " kunjunkturtendenzen winter 2006 / 07 ", page 48. see ben bernanke, 1981, “ bankruptcy, liquidity, and recession ”, american economic review 71, 155 - 159, or ben bernanke