 So, ladies and gentlemen, let us move on to the module 88, which will cover about the research on X efficiency in Japan. As we have discussed so many case studies in different areas in different context, now look at the level of X efficiency in Japan. So, we have understood and understood that the quality efficiency in the entrepreneur is increasing. What are the gaps that the entrepreneur finds out? The entrepreneur finds out the gap there. So, it is not just that you have to produce the business or there are no profit motives, there are no earnings. We can understand this in the modules so far that our gaps are basically quality efficiency. When we look at the experience of the entrepreneur, as in the portfolio of the entrepreneur, we see exactly what he has gone through. This is a major gap that has been mentioned a lot in the modules. Let us take a look at the lessons of X efficiency in Japan. So, now we will see how Ex-efficiency affected Japan. Now, if we look at it carefully, so Hussono Onsaki and Tussaudo in 2006 examine the causes and effects, which take a period of about 1984 to 2002, average Ex-efficiency for all banks, its standard, which is kept there, is kept at 0.44. So, here, if we look at the different banks of this bank, in particular, it was at 0.44. We looked at the other banks and normally, we looked at different case studies on the bank transactions. We looked at 0.99, 0.66 and it was gauged on the different standards. Why this research conclude the following these profitable or less profitable or efficient or inefficient areas? The total purpose of this research was that we have to look at efficiency and inefficiency. Efficient effectiveness and efficiency, first of all, the effectiveness is that you have minimized everything. This is not a standard. I have told you here that you maintain the quality standards of the company. For example, entrepreneurs in my view have grown up, who have made BMWs, according to me, who have done the fuel efficiency, but what you have developed for life-saving, you must have seen that there is a car in a recent time. People waste 3-3 crore rupees or use it, instead of 40-50 lakhs, when a Japanese grace car comes, there is a hot seat in it, there are different features in it. This is a shock for me that there is so much efficiency in Japan that if you buy a small car, you will get a system in which you can enjoy its layer, efficiency, technology, innovation. So, what we have to enjoy, rather than just making an imaginary thing that is a grand car cost, 6 crore rupees, so you are paying the price, no, now let us look at this efficiency that less profitable and less cost efficient banks are most likely to be an acquire and target. This was the first number in this. Second thing they acquire, to acquire banks improve cost efficiency after consolidation. The very important thing is to consolidate, when two banks, bank to businesses B to C, B to G, business to business, business to government, bank to government B to GB, so how they consolidate? So, after consolidation, your improvement in efficiency comes, then your factor comes out. Then moving on, to understand improvement in profitability of margin, banks were seen consistent with the efficiency, hypothesis especially, when the difference between the merger and the acquired banks were considerable. Look here, if my efficiency is not going, my break even is not complete, and in my hypothesis I see that these banks can not be more efficient than they normally are, otherwise you would have seen that banks normally go for the merger and acquisition, so many banks are also going through this. So, what they did in that way is that they put this standard in Japan and they produced the efficiency of the banking sector, remember one more thing I will create with you, entrepreneurs are the one who work on quality, work on human resource, work on efficient way of finding and mitigating risk and efficient in managing resources, financial resources, by a bank, credit bank, credit scheme, private creditors, the efficient on time financial input is the most important for the business. So, this is how we need to understand X efficiency in the banking sector, thank you very much.