• Summary
  • Contents
  • Subject index

India's Financial Sector deals with the reform measures undertaken in the financial sector and their impact. The impact is assessed in terms of growth in activities, profitability, financial stability, and financial inclusion among intermediaries such as banks, NBFCs and mutual funds, as well as in the financial markets. This book adds to the existing literature on the subject by offering an analysis of the impact that embraces not only the increased activities in the sector but also the issue of financial stability and financial inclusion.

The discussion is divided in three parts. The first part deals with financial intermediaries, the second explores the primary and secondary markets, and the third focuses on the internationalization of the Indian financial market. Further topicality is provided to the discourse ...

Non-Banking Financial Companies
Non-banking financial companies

It is true that the banks share a very large segment of financial intermediation in the Indian financial market; nevertheless, the non-banking financial companies (NBFCs) play a significant role in this respect. The possible reason is that it has been easy to set up NBFCs and, moreover, they, being less subjected to rigid regulations, have been in a position to offer attractive terms to allure the customers. They grew along with the banking companies providing various kinds of financial services over the past few decades. During the 1980s and the early 1990s, the growth was remarkably fast as the number of NBFCs ballooned from 7,063 at the end of March 1981 to 33,520 and 35,832, respectively, at the end of ...

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