000			01545pab a2200169 454500
008			180718b2006 xxu||||| |||| 00| 0 eng d
100			_aBhole, L.M.
245			_aDevelopment of financial infrastructure in India: (past and contemporary initiatives)
260			_c2006
300			_ap.1-20.
362			_aMar
520			_aFinancial sector reforms in India have been widely discussed, supported, and commended. While doing so, the financial policy before the introduction of the reforms has not been properly and adequately assessed; while its strengths or positive features have been taken for granted, its failures have been grossly overplayed. The objective of this paper is to try to correct this imbalance. It compares the policies approaches, and issues involved in the development of the financial infrastructure in India during 1951-91 and after 1991. The paper illustrates that the approach and initiatives towards financial development in India before 1991 were more sound as compared with those after 1991. Financial sector reforms have tended to weaken the Indian financial system by increasing its instability, volatility, inequity, crises, and so on. The restrengthening of the infrastructural role of the Indian financial system, inter alia, requires suitable regulatory arrangements, financial decentralization, and realization of the importance of the role of ethics in the area of finance. - Reproduced.
650			_aPublic finance - India
650			_aPublic finance
773			_aMan and Development
909			_a70451
999			_c70451 _d70451