Indian Financial Reforms: Priorities and Policies Post Global Financial Crisis

Indian Financial Reforms: Priorities and Policies Post Global Financial Crisis

by Uma Kapila (Editor)


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Indian Financial Reforms: Priorities and Policies Post Global Financial Crisis by Uma Kapila

Collecting the writings of eminent economists and financial experts, this edited volume brings together the story of India’s financial sector reforms. It focuses on the unfinished agenda, the need for next generation of reforms, and lessons and new responsibilities for central banks in the wake of the global financial crisis. It also addresses policy challenges that have arisen from the new trilemma: price stability, financial stability and sovereign debt sustainability, and implications of Basel III and G-20, as well as issues and challenges in financial inclusion.

Product Details

ISBN-13: 9789332700079
Publisher: Academic Foundation
Publication date: 07/01/2013
Pages: 414
Product dimensions: 6.40(w) x 9.20(h) x 1.40(d)

About the Author

Uma Kapila is the senior editor for the Academic Foundation; a coeditor of numerous books on India’s economy, banking, and finance, including 1991–2011: Two Decades of Economic Reforms and Indian Economy Since Independence; and a former professor of Indian economics at the University of Delhi.

Table of Contents

Acknowledgements 9

Editor/Contributors 11

Introduction Uma Kapila 13

1 Indian Financial Reforms: National Priorities Amidst an International Crisis Ashok K. Lahiri 25

2 Indian Economy: Imperatives for Second Generation Reforms K.C. Chakrabarty 79

3 Next Generation Financial Sector Reforms and Inclusive Growth N.A. Mujumdar 95

4 The Indian Banking System: Some Issues C. Rangarajan 109

5 Banking and Beyond: New Challenges before Indian Financial System K.C. Chakrabarty 119

6 Global Financial Crisis: Some Lessons for Central Banks N.A. Mujumdar 131

7 Society, Economic Policies and the Financial Sector Y.V Reddy 137

8 A Revolution in Monetary Policy: Lessons in the Wake of the Global Financial Crisis Joseph E. Stiglitz 159

9 Price Stability and Financial Stability: An Emerging Market Perspective Deepak Mohanty 205

10 Price Stability, Financial Stability and Sovereign Debt Sustainability: Policy Challenges from the New Trilemma Duvvuri Subbarao 225

11 Crisis Preparedness in Interconnected Markets: Prevention is Better than Cure K.C. Chakrabarty 245

12 Financial Stability: 2007 to 2012: Five Years On Anand Sinha 257

13 Implications of Basel III for Capital, Liquidity and Profitability of Banks B. Mahapatra 279

14 Basel III in International and Indian Contexts: Ten Questions We Should Know the Answers For Duvvuri Subbarao 301

15 G-20 and India Duvvuri Subbarao 319

16 Money Market and Monetary Operations in India Deepak Mohanty 335

17 Musings on Foreign Exchange Dealers Association of India (FEDAI), Forex Market and Indian Rupee Harun R. Khan 353

18 Issues and Challenges in Financial Inclusion: Policies, Partnerships, Processes and Product Harun R. Khan 365

19 Touching Hearts and Spreading Smile Duvvuri Subbarao 387

Index 403

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