Professor Patrick Honohan:

I doubt it. I would say that matter would have been directly between the banks and the Central Bank. I am not sure it would be the IFSC banks as I think it is the local banks that were more affected by this. The IFSC banks are doing other kinds of business. By the way, though, all over the developed world, the banks have become increasingly concentrated in property. Other types of financial firms do other things. It is a problem that has developed all over.