The financial system reforms in India were accompanied by economic reforms of 1991. To support economic growth, the country requires financial system that supports and stimulates the growth.
Objectives of Financial System Reforms:
To remove structural rigidities and inefficiencies
To efficiently channelize and allocate resources
To improve efficiency, stability and integrate the various components of financial system.
Provide operational and functional autonomy to institutions
Prepare the financial system for increasing international competition
Easing of capital controls to give Indian firms access to foreign capital
The financial system reforms can be broadly classified into three categories:
Banking Sector Reforms
Capital Market Reforms
Foreign Exchange Market Reforms
Financial System Reforms ke do phases the:
1. first phase me financial system ko efficient, productive aur profitable bnane me jor diya gya. Institutions ko decision me flexibility di gyi and financial autonomy provide ki gyi.
2. Next phase me focus tha financial system ko strengthen krna aur structural improvements krne ka
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19 авг 2024
