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Bank S upervision. India suffers from excessive numbers of supervisions Ineffective bank supervision The problems of multiple regulators and jurisdiction overlap Fraud on the stock market The RBI & the supervisors of cooperative societies often issued counter directives.
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India suffers from excessive numbers of supervisions • Ineffective bank supervision • The problems of multiple regulators and jurisdiction overlap • Fraud on the stock market • The RBI & the supervisors of cooperative societies often issued counter directives
To conclude, India’s economic “miracle” was largely the results of reforms. • Currency convertibility and capital controls were reformed at early stages • External finance in the form of foreign direct & portfolio investment is being encouraged • The currency has moved gradually over the years from a sterling peg to its current regime of a managed float.