.....The authors of the Report lack a sense of Indian economic history” — a stern indictment indeed. Incidentally, the Committee did not include a member from RBI. ‘ Monetary and Credit Policies’ form the subject matter of part three and has ten essays. There is a critical analysis of policies in the post- reforms period and a stirring call on the part of RBI to evolve a blueprint of area- specific plans to facilitate banks and financial institutions to promote inclusive growth in the real sector. A number of essays analyse credit and monetary policies during 2007- 2009........
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With the advent of LPG(Liberalisation-Privatisation-Globalisation)the carefully laid path to rural development has been abundoned and we are traveling thru flyovers and bypasses to financial inclusion. Public sector institutions are being destroyed(eg. UTI), cooperative movement has been forgotten and banking outreach thru branch expansion(Service Area Approach, Lead Bank Scheme) is being substituted by models best suited for advanced countries(like BC, White Label ATMs) where urbanisation has reached a higher level and population is low.Doubtful whether books like this will be read by those who who should read them. Still, something on record is better than nothing.
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