BANKING AND FINANCIAL INSTITUTIONS - I
OVERVIEW OF INDIAN FINANCIAL SYSTEM
When Indian economic reforms were started in 1991, the main focus was on financial sector reforms that also included banking sector reforms. Some sectors were over-regulated and some were under-regulated. Overall, the Indian economy progressed a lot after these reforms. Indian economy is very diverse, and the financial sector reforms are an integral part of it.
A financial system is a set of institutions such as banks, insurance companies, and stock exchanges that permit the exchange of funds. Finance is linked with acquisition and conservation of capital funds in meeting the financial needs and overall objectives of a business enterprise. It is not just a form of cash ...
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