Banking Sector Reforms since 1991
Introduction Indian Financial system consists of Banks, Equity markets, Bond markets and various other financial institutions. The role of financial sector reforms on the banking sector in India is crucial to its economic growth trajectory (Satija, n.d.). Private banks have played a key role by bringing new technology and products to the banking space as we walk through a long way since 1991 (Agarwal, 2021). In his budget speech (1991) Finance Minister, Dr Manmohan Singh announced that the objective of the reform would be to improve the health of Its institutions. As per Dr Singh’s announcements, a committee was appointed under the chairmanship of M Narasimham, former RBI Governor. The banking sector, after 30 years of reform continues to be a severe economic concern. Therefore, it’s important to analyse how this journey which started with much promise tur...