Having seen the impact of new regulatory reform agenda, it is important to consider means to limit their unintended consequences without throwing away the baby with the bath water. The elements of this new framework are needed for the global banking system.
As a result, the Indian economy recovered from an unprecedented contraction of 6.6 per cent in 2020-21 to a growth rate of 8.7 per cent in 2021-22, including an expansion by 4.1 per cent in the quarter January to March 2022 when several advanced and emerging economies either shrank or slowed. In the first quarter of 2022-23, available indicators of economic activity have improved.