01094pab a2200169 454500 180718b2000 xxu||||| |||| 00| 0 eng d Tarapore, S.S. Malaise of Indian financial system: need for reforms 2000 p.2821-826 5 Aug Financial crises the world over have revealed that weaknesses in financial systems and their supervision contribute to macro instability. Not only is stronger supervision necessary but the discipline of the market needs to be reinforced. Corporate governance needs to be strengthened and bankruptcy legislation made more robust. With rapid technological changes, the leaders in innovation would claim the best business. Banks and financial institutions which resist change would, like dinosaurs, become extinct. The financial system would need to be guided by three requirements, viz, transparency, rigorous norms and appropriate incentives. - Reproduced Economic recession - India Economic recession Economic and Political Weekly 45700 45700 45700 0 0 0 0 IIPA IIPA 2018-07-19 Volume no: 35, Issue no: 32 AR46124 2018-07-19 2018-07-19 AR