Chapter 4 analyses the changes in the financial sector development along the dimensions of structure, size, reach, technology, efficiency, soundness of the sector. The structure of the sector has undergone substantial change in terms of new institutions and instruments, although most of them pertain to the private corporate sector. Reforms enabled the sector to grow along the dimensions of size, reach, and to enhance its productivity through the adoption of technological advancements. All the indicators show that the Indian financial sector, particularly banking sector has come a long way from fully regulated, less competitive, and high cost to more efficient and profitable industry. To make the sector more competitive in the international markets, lot more needs to be done.
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