Central banks have traditionally attached considerable importance to communication regarding monetary policy to guide market expectations. Now regulators too need to hone their communication skills. 48. There are many reasons cited for India having moved up to a higher growth trajectory. Most of the reasons are familiar.
But one of the big unacknowledged drivers of India’s growth has been the impressive improvement in the quality and quantum of financial intermediation over the last decade. The Indian financial sector in general, and Indian banks in particular, can be proud of this very credible achievement.