Notwithstanding the substantial improvement, the domestic banking system will need to be further strengthened to face greater external competition and introduction of financial innovations and fuller capital account convertibility. BIS Review 145/2007  9  II.3  Financial markets  The most notable impact of financial sector reforms is clearly discernible in the development of various segments of financial markets in India.
It is in our greatest self interest to develop inclusive financial systems which provide low income and marginalized communities with increased access to viable financial services, thus allowing them to become a critical component in, and contribute to, the country’s economic development. Alternative delivery channels 3.