Indian Financial System: Reforms, Policies and Prospects

"Prior to economic reforms initiated in 1991, Indias financial system was characterised by barriers to entry, control over pricing of financial assets, high transaction costs and restrictions on movement of funds from one market segment to another. Wide-ranging financial sector reforms were introduced as an integral part of the economic reforms programme started in early 1990s. Financial sector reforms during the last decade and a half have focused on (a) elimination of segmentation across various markets in order to facilitate transmission of impulses across markets, (b) easing the liquidity management process and (c) making resource allocation more efficient across the economy. The present book explains and examines the changes which have swept the Indian financial system over the last 15 years or so. "