Commercial Banking Sector Reforms in India Since 1991

Abstract

Banking is an important segment of financial sector of any economy and acts as a backbone of economic progress. For an economy like India, a diversified, productive and profitable banking sector is considered essential to achieve the objectives of growth with social justice. The stability of banking sector is the prime factor for the development of an economy. Banking sector performs three primary functions in an economy: the operation of the payment system, the mobilization of savings and the allocation of saving to investment projects newline