Description
Book SynopsisThe fifth volume on the history of the Reserve Bank of India covers the years from 199798 to 200708. During this period, it introduced key institutional and financial market reforms in a rapidly changing economic environment and facilitated faster integration of the Indian economy. The Bank rationalised and introduced innovative instruments of monetary control; strengthened regulatory and supervisory processes for both banking and non-banking sectors; adjusted its approach to achieve and sustain financial stability; focussed on building financial market institutions and infrastructure; and spurred legal and other amendments in the larger public interest as also for achieving flexibility with stability in the economy. It also worked to improve the rural credit system, financial inclusion and customer protection. This volume is a narrative history of the Bank and also a rich resource for understanding how an emerging market central bank manages change and shapes the economy to face futur
Table of ContentsForeword; Preface; Acknowledgements; List of Abbreviations; 1. Introduction: Managing Liberalisation; 2. The Macroeconomic Context; 3. Monetary Management; 4. Foreign Exchange Market and Management of the Capital Account; 5. Foreign Exchange Reserves Management; 6. Financial Markets; 7. Public Debt Management; 8. The Payment and Settlement Systems; 9. Currency Management; 10. Regulation of the Financial System – Part I: Commercial Banks; 10. Regulation of the Financial System – Part II: Other Financial Institutions; 11. Supervision of the Financial System; 12. Rural Credit; 13. Financial Inclusion; 14. Communication Policy; 15. Organisational Change; Appendices; Photographs; Select Bibliography; Index.
