The papers in this volume assess progress with financial sector reforms over the past decade or so, and analyse the new challenges that confront India's policy makers and financial regulators. The papers highlight a formidable reform agenda, pointing to the need for a progressive reduction in fiscal deficits, dealing with the country's public sector banks and financial institutions, introducing more effective legal, regulatory, supervisory and risk management systems, further developing capital markets, pension reforms and measures to improve access to finance for the underserved.The solution could be a two-part architecture that allows banks to do what they do best - managing credit risk - and to ... The interest rate derivatives market is the natural vehicle for banks to use to lay off their interest rate risk to other players. ... of the exchange breaks down cartels, improves competition, and avoids the human labour cost of manually searching for ... some concerns about the legal enforceability of futures and options on underlying instruments that are not securities.
|Title||:||India's financial sector|
|Publisher||:||Macmillan _ - 2005-01-01|