Strategy For Financial Reform Is Becoming Visible

INDIA - Report 11 Jun 2013 by Ajay Shah

Executive SummaryFor the last decade, financial reforms in India have floundered. The game plan that now seems to be clearly visible comprises of a long term strategy and a two-pronged short term strategy. The long-term strategy is to enact some version of the draft Indian Financial Code, a new law that will replace all existing financial law, and will yield transformative change. The short-term strategy comprises of emphasizing international competitiveness of the financial system, and using the Financial Stability and Development Council as a mechanism to achieve inter-regulatory cooperat...

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