The Resource Financial Sector Reform in India : Time for a Second Wave?, Richard Herd ... [and others], (electronic resource)

Financial Sector Reform in India : Time for a Second Wave?, Richard Herd ... [and others], (electronic resource)

Label
Financial Sector Reform in India : Time for a Second Wave?
Title
Financial Sector Reform in India
Title remainder
Time for a Second Wave?
Statement of responsibility
Richard Herd ... [and others]
Contributor
Subject
Language
eng
Summary
The Indian financial system has changed considerably since the 1990s. Interest rates have been deregulated and new entrants allowed in the banking and the securities business. The Indian equity market has become world-class. New private banks have emerged that are more customer-oriented than the older state-owned banks. Meanwhile, the scale of saving within the economy has expanded considerably, much as in East Asian economies during their high-growth period. This adds to the need for further financial-sector reform. In particular, banks need much greater freedom in asset allocation. While public-sector banks did appear sounder to the public during the 2007/08 crisis due to implicit government backing, they ought to be privatised to improve their governance and minimise the recurrent need for recapitalisation. The remaining obstacles to new entry have to be reduced. Financial inclusion is an important priority and restrictions on microfinance should be avoided. The regulatory and legal framework also needs to be overhauled, consolidating the diverse legislation. While such reforms would improve financial sector efficiency they would also likely have positive spillover effects on the rest of the economy and help sustain rapid growth. This Working Paper relates to the 2011 OECD Economic Survey of India (www.oecd.org/eco/surveys/india)
Member of
Cataloging source
FR-PaOEC
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Herd, Richard
  • Koen, Vincent
  • Patnaik, Ila
  • Shah, Ajay
Series statement
OECD Economics Department Working Papers,
Series volume
no.879
http://library.link/vocab/subjectName
  • Economics
  • India
Label
Financial Sector Reform in India : Time for a Second Wave?, Richard Herd ... [and others], (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762088820
Dimensions
21 x 30 cm
Extent
1 online resource 38 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5kg8ghvzr2jk-en
Specific material designation
remote
System control number
(OCoLC)762088820
Label
Financial Sector Reform in India : Time for a Second Wave?, Richard Herd ... [and others], (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762088820
Dimensions
21 x 30 cm
Extent
1 online resource 38 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5kg8ghvzr2jk-en
Specific material designation
remote
System control number
(OCoLC)762088820

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