customer identification and kyc purposes, providing low - value one - toone transfers on a 24x7 basis, etc. giving a logical direction to settlement finality in netsettlement systems by examining guaranteed settlement is yet another thought process. ladies and gentlemen, you would agree with me that the host of issues that revolve around the retail payment systems cannot be addressed in a matter of few minutes. all that i have attempted is to draw your attention to the important issues that any regulator needs to be conscious about. i am sure over the next three days some of these issues may see solutions emerging with your active participation. at the end of the seminar, let us all hope to carry with us sufficient knowledge to steer the course of the retail payment systems not just within our jurisdictions but also strive to harmonise the efforts of retail payment activities across jurisdictions. let me conclude by quoting what leonardo da vinci had said – “ i have been impressed with the urgency of doing. knowing is not enough ; we must apply. being willing is not enough ; we must do. ” what was true then is equally applicable today. i wish you all the very best and happy deliberations.

of the financial system for the progress of the region. commercial banks, which are involved in providing credit facilities and making investments for productive activities as well as broadening banking practices under financial inclusion, have expanded their offices across the region. the number of offices ( including regional rural banks ) expanded in the region by moving up sharply from 17, 613 end - march 1999 to 29, 135 at end - march 2013 ( excluding u. ts of pudhucherry and lakshadweep ). role of banks 10. i would like to highlight the involvement of commercial banks in the development of the region. for measuring the role of banks, the following parameters have been considered by me : ( a ) deposits to gsdp, ( b ) credit to gsdp and ( c ) c / d ratio. the role played by banks has been analysed under these categories in terms of : ( a ) prior to the introduction of financial sector reforms ; ( b ) post financial sector reform period and ( c ) inclusive growth period. prior to 1991, the deposit to gsdp of combined andhra pradesh in 1981 was hardly 28. 0 per cent, credit to gsdp ratio was 21. 1 per cent and credit to deposit ratio was 75. 3 per cent. this moved up to an impressive level of 52. 8 per cent, 58. 1 per cent and 109. 9 per cent, respectively, in 2013, underscoring banking penetration for the growth in the combined state of andhra pradesh ( table 4 ). in fact, banks have played deeper role, even better in the rest of the region like karnataka, tamil nadu and kerala states. urban co - operative banks 11. another important institutional set up in the financial system allocating funds for economic activities is by urban cooperative banks ( ucbs ). as at end - march 2014, a total of 557 ucbs under both scheduled and non - scheduled categories were operating in the region. these ucbs put - together have mobilized public deposits totaling 48, 461. 41crore as at endmarch 2014 and funded various activities in the region amounting to 32, 146. 15 crore at end - march ( table 5 ). bis central bankers ’ speeches role of nbfcs in the region 12. as at end - march 2014, there were 995 non - banking financial companies in the category of deposit taking, non - deposit taking and core investment companies in the southern region as against 12, 029 for all - india