Indian Financial System- A Study of Select Issues
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 2
Abstract
The Indian financial sector today is significantly different from what it used to be a few decades back, in the 1970s and 1980s. The Indian financial system of the pre-reform period essentially catered to the needs of planned development in a mixed-economy framework where the Government sector had a predominant role in economic activity. Financial sector liberalisation in India has been calibrated on cautious and appropriate sequencing of reform measures and was marked by a gradual opening up of the economy. This gradual strategy seemed to have served the country well, in terms of aiding growth, avoiding crises, enhancing efficiency and imparting resilience to the system. In recent years, the Indian Ecosystem has grown towards the maturity. Factors like availability of funding, evolving technology, consolidation strategy adopted by a number of firms and burgeoning demand within the domestic market has given a rise to new beginnings in the forms of startups, angel investing, financial inclusion programs etc. This paper attempts to improve the current understanding of the field in three selected relevant issues. First, it endeavours to map out the investment activity that has been undertaken by a variety of angels, including some of the more prominent angel networks in India. Second, it tries to highlight the major step that Hon’ ble Prime Minister Dr. Narendra Modi announced, "Start-up India, Stand up India" to promote Bank Financing for start-ups and offer incentives to boost entrepreneurship and job creation. Finally, financial inclusion is also considered to be a business opportunity for the formal financial institutions. It would help them in penetrating into unbanked areas and thereby attaining profit. In India, there is a significant increase in the efforts of having the optimal situation of financial inclusion. . Conclusively we can say that the Indian financial system has undergone` structural changes relating to ownership, competition and integration with global financial markets, the necessity of an ongoing restructuring of the regulatory framework and improved monitoring of the embedded risks in the financial system was also recognized. This process of financial liberalization resulted in innovations in instruments and processes, technological sophistication and increased capital flows.
Authors and Affiliations
Anjali Singh, Dr. K. K. Jaiswal
Keywords
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- EP ID EP409647
- DOI 10.9790/487X-2002053240.
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