Chapter

The Financial Sector

T.N. Srinivasan

in Eight Lectures on India's Economic Reforms

Published in print June 2000 | ISBN: 9780195652826
Published online October 2012 | e-ISBN: 9780199080649 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780195652826.003.0007
The Financial Sector

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This chapter focuses on the reform of the financial sector in India. It discusses contract law and regulation of interest rates in India and proposes full liberalization of the financial sector. It explains that full liberalization involves elimination of credit controls, deregulation of interest rates, ease of entry into the financial sector, full autonomy for banks, permitting private ownership of banks, and liberalization of international capital controls. It argues that with financial liberalization savings will rise, investment allocation will be efficient, there will be greater financial deepening and larger savings, and hence larger investments.

Keywords: financial sector; reforms; India; contract law; interest rates; liberalization; credit control; banks; capital controls; savings

Chapter.  3545 words. 

Subjects: Economic Development and Growth

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