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To discuss the context, need ,objective, approach and
appraisal of Financial sector reform in India.
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1991 Financial System Reform- The new economic policy of
structural adjustment and stabilisation programme
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The reform have been introduced at a gradual pace
combined with :
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Improvements in efficiency of the banking system in terms
of the asset quality and productivity
8
contd.
Management of liquidity through Liquidity Adjustment
Facility - provided liquidity to the market and imparted
stability to financial markets
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contd.
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to enforce honest and prudent behaviour through self-
policing arrangement
regulatory policies that minimize interference with the
functioning of the market
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Helps a country to attain a high quality growth in a sustained
way by addressing issues of equity, social justice and
participation