I  5  “Finance for growth”, op. cit. BIS central bankers’ speeches  5  am aware that the issues I have dealt with are small ones. But I will not yield to the temptation to say “it will take a lot more than that”. Let us all start with the small things within our ken.
A growing body of evidence suggests that financial institutions (such as banks and insurance companies) and financial markets (including stock markets, bond markets, and derivative markets) exert a powerful influence on economic development, poverty alleviation, and economic stability. This position holds good for India too. 7.