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Financial Services Firms in India: The Road Ahead and the Challenges

In: Global Perspectives on Insurance Today

Author

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  • Anita Pennathur

Abstract

The landscape in which financial services firms operate in India has changed tremendously since the financial liberalization of the 1990s. Prior to this time, the financial sectors were heavily regulated in order to be aligned with the economic and social goals of the government. Similarly, to many emerging market countries, India today is faced with delicately balancing liberalization versus adequate regulation and supervision, to allow a safe and sound financial system to flourish. Currently, India has rebounded from the economic crisis of 2007–2008 relatively unscathed, especially when compared to the developed market economies. The Indian economy demonstrated resilience and recorded a better than expected growth of 7.9% for the second quarter of 2009–2010. The Reserve Bank of India (RBI), India’s central bank, projected a 6% GDP growth for 2009–2010, but has subsequently revised this projection to 7.5%, reflecting the continued recovery.1 Indeed, the major risk that India faces at this phase deals with inflationary pressures associated with a quick recovery.

Suggested Citation

  • Anita Pennathur, 2010. "Financial Services Firms in India: The Road Ahead and the Challenges," Palgrave Macmillan Books, in: Cecelia Kempler & Michel Flamée & Charles Yang & Paul Windels (ed.), Global Perspectives on Insurance Today, chapter 0, pages 291-297, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-11737-2_22
    DOI: 10.1057/9780230117372_22
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    Cited by:

    1. Pennathur, Anita K. & Subrahmanyam, Vijaya & Vishwasrao, Sharmila, 2012. "Income diversification and risk: Does ownership matter? An empirical examination of Indian banks," Journal of Banking & Finance, Elsevier, vol. 36(8), pages 2203-2215.
    2. Pennathur, Anita & Vishwasrao, Sharmila, 2014. "The financial crisis and bank–client relationships: Foreign ownership, transparency, and portfolio selection," Journal of Banking & Finance, Elsevier, vol. 42(C), pages 232-246.

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