Financial Sector of India : Emerging Challenges

Contents Preface. 1. Financial sector reforms in India emerging issues/Nisha Gupta Deepak Garg and Pooja Garg. 2. India's service sector and economic development/Dhiraj Sharma and Ratinder Kaur. 3. Performance budgeting in higher educational institutions/Nazir Ahmad Gilkar. 4. Performance of equity in relation to fundamentals/Sultan Singh Himani Sharma and Kapil Choudhary. 5. Feasibility of single regulator for financial sector in India/Srishti Gupta and Aditya Mehra. 6. Towards globalization of India's financial sector/Meenu Agrawal and Juhi Gupta. 7. Impact of FDI on international trade of Madhya Pradesh/Nitin Tanted and S. Mahalati. 8. Problems and prospects of mutual funds in India/Ummed Singh. 9. Financial liberalization and corporate investment/Prabhakaran Nair V.R. 10. Emerging dimensions in India's financial sector/Shammi Kumar. 11. India's insurance sector a paradigm shift/Usha Goyal and Seema Jindal. 12. Indian stock markets post globalization scenario/Bansal Anand and Pasricha J.S. 13. Convertibility of rupee in India/Vinod Kumar and Ummed Singh. 14. Spiritual values in business/Neetu Khanna and Shivani Gupta. Index. 17 years of financial reforms in India have created a fairly sound framework for higher growth and integration with the world economy. Though the task is by no means complete the groundwork that has been laid will allow us to move rapidly towards the financial architecture that is appropriate for a country of India's size and aspirations. Financial markets and institutions need to evolve considerably in order to keep up with the requirements of Indian firms and Indian investors in coming years. The corporate bond market is moribund and will have to be revived and a number of missing markets will have to be created including exchange traded interest rate and foreign exchange derivatives contracts. But even in markets that exist apart from the equity market for large capitalization stock the ability to trade consistently at low cost and the tendency of market prices to reflect fundamentals are typically low for most markets. The country has moved on to a higher growth trajectory. To sustain and accelerate the growth momentum further reforms in the financial sector are called for including a robust infrastructure for credit and an effective regulatory framework. This book contains 14 papers authored by scholars in the field which deal with various dimensions of emerging financial scenario in India. The book is topical and useful for a cross section of readership. 234 pp.…