Global initiatives of reviewing and strengthening of banking sector risk management are progressing satisfactorily, but but there are some unsalted key issues on which broad consensus will be important in averring future episode of global banking crises. These include prevention of overgrowth of banks and financial institutions to ‘too big’ to fail’ dimensions posing threat to stability; avoiding the need of publicly funded bank bailouts by forcing separation of retail banking essential for public life from investment banking focused on private gains; and debarring banks and financial institutions from speculative position taking in commodity futures, which fuels price voracity for gains at the expense of consumers.