The slow regress in banking

.....The process of liberalisation having begun, the loss of the RBI’s control and the restoration of private influence over banking is difficult to stall, let alone reverse. Perhaps for that reason the RBI has not kept its promise, made in the February guidelines, to come out with an overall policy discussion paper on banking structure in India within two months. Realising that structure may not be possible. All that the RBI has managed to do and is likely to strive to ensure is that the transition is slow and long drawn, much to the irritation of the “reformers”............

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