Question

10. What are the recent developments in financial sector reforms
in India? How significant they are for the development of Indian
business environment.​

Answer 1

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The major reforms relating to the banking system were: Prudential norms were introduced and progressively tightened for income recognition, classification of assets, provisioning of bad debts, marking to market of investments. Pre-emption of bank resources by the government was reduced sharply.

Answer 2

Explanation:

The major reforms relating to the banking system were: Prudential norms were introduced and progressively tightened for income recognition, classification of assets, provisioning of bad debts, marking to market of investments. Pre-emption of bank resources by the government was reduced sharply.

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