While a number of measures have been taken and are being taken in India, given the enormity of the task, a lot of ground still needs to be covered. Apart from the Government and the regulatory bodies, there is a need for involving the civil society and all other stakeholders in spreading financial literacy.
The role of monetary policy Coming to the role of monetary policy: what we have achieved over the last decade? And how is it relevant for fostering innovation, entrepreneurship and growth? A great deal of market development has taken place in the financial sector.