The Report of the Committee on Banking Sector Reforms, (April 1998) (Chairman: M. Narasimham) recommended restructuring of the existing BFS. The Committee recommended that an integrated system of regulation and supervision be put in place to regulate and supervise the activities of the banks, financial institutions and NBFCs.
In Italy the saving rate – traditionally one of the industrial world’s highest – has been diminishing for over twenty years. Since the onset of the crisis the decline has sharpened.