Financial liberalisation in India

Arun, Thankom G.; Turner, John
December 2002
Journal of International Banking Regulation;Dec2002, Vol. 4 Issue 2, p183
Academic Journal
Up until 1991, the Indian government owned most of the banking system, and regulation effectively undermined any freedom that banks possessed. This paper analyses the nature of financial repression prior to 1991, the deregulatory process of the last decade, and the development of the supervisory system. It is suggested that India's complex political economy has slowed the process of deregulation, but from a banking stability point of view, this may not be a bad thing. Further reforms are required, however, but it is argued that this may only occur under certain conditions.


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