Draft Report of the Committee on financial Sector Reforms

The financial sector has built capabilities such that, with appropriate policy changes, it can grow tremendously, both domestically and internationally. the report touches upon two reasons for financial sector reform—to include more Indians in the growth process, and to foster growth itself. But in these uncertain times, there is a third reason; To improve financial stability and thus protect the economy against the kind of turbulence that has affected emerging markets in the past, and is affecting industrial countries today. The report aims to catalyze debate as well as action, some immediate and some over time as political will emerges.