|
The financial sector in India is characterised
by liberal and progressive policies, vibrant equity and debt markets and prudent
banking norms.
India has a transparent, highly technology-enabled and
well-regulated stock market defined by the most modern, nationwide,
on-line screen-based trading system (SBTS), a T+2 rolling settlement system and
a market cap of over
|
|
| India has the largest number of listed
companies across 23 Stock Exchanges and the third largest investor base in
the world. |
|
$450 billion. With the largest number of listed companies - 10,000 - across
23 Stock Exchanges, India also has the third largest investor base in the world.
 India's healthy banking system with a network
of 70,000 branches is among the largest in the world. Aggregate deposits of
commercial banks were about $400 billion in March 2005 (60% of the GDP) and the
total bank credit stood at $250 billion (about 38% of the GDP). NPA levels of
banks in India are under 5%, one of the lowest among emerging nations. The
Banking system is Basel I compliant and moving towards Basel II norms.
The Reserve Bank of India (RBI), the country's
central bank, has effectively managed the country's monetary policy over the
last five decades. The country's current Prime Minister, Dr. Manmohan Singh is
a former Governor of the Reserve Bank of India and a former Finance Minister.
India's financial sector has been one of the fastest growing sectors in the
economy. It has also witnessed increased private sector activity including an
explosion of foreign banks, insurance companies, mutual funds, venture capital
and investment institutions.
|
