Reserve Bank of India
Raj Bhala
Chapter 5 in Research Handbook on Central Banking, 2018, pp 68-93 from Edward Elgar Publishing
Abstract:
In the post-British Raj Era, financial liberalization is a hallmark of Indian banking regulation. The RBI is a focal point for change. The pace of change, however, is measured thanks to the legacy of Nehruvian Socialist-style controls, and to the complexity of Indian bank structure. Both payments and FX regulation exemplify this cautious approach to legal and policy reform. Underlying financial liberalization are long-held suspicions in India about freewheeling western-style banking markets. The RBI seeks to develop a modern banking system while ensuring the poor and emerging middle class are not financially excluded from that system. That means the cautionary approach to reform that has characterized the RBI will endure.
Keywords: Economics and Finance; Law - Academic (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:
Downloads: (external link)
https://www.elgaronline.com/view/edcoll/9781784719210/9781784719210.00011.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:16612_5
Ordering information: This item can be ordered from
http://www.e-elgar.com
Access Statistics for this chapter
More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().