For my address today, I intend to reflect upon the special features of financial sector reforms in India since the initiation of the reform process in early nineties covering banking sector and financial markets and certain actions taken and contemplated.
There have been innumerable evaluations of the financial sector reforms undertaken by India, some of which critical of the pace but the results achieved are acknowledged by all. It is important to understand and appreciate the circumstances under which the entire process was guided through balancing the given systemic imperatives with the need for bringing about changes in a non-disruptive manner.