Financial System A Development Perspective

Financial System: A Development Perspective V V Bhatt Financial System for Economic Development by R S Bhatt; N M Tripathi,
THE Indian financial system as it has evolved is comparable in many respects with the financial systems of the most advanced developing countries as welt as some of the developed countries. It has a well diversified structure of financial institutions and instruments and a distinct development orientation. This is the result of the innovative role played by the Reserve Bank of India and the government. Equally significant has been contribution of the entrepreneurial talents and managerial competence of a few individuals who have shaped its system. One such entrepreneur- manager is R S Bhatt who founded the Bombay State Financial Corporation in 1953. the Indian Investment Centre in I960, the Unit Trust of India in 1964 and the Merchant Banking Division of the Stale Bank of India in 1973 and managed the National Research Development Corporation of India during 1975-80, Few entrepreneur-managers have the ability to reflect on their experience and present their reflections as the lessons of experience in a lucid, persuasive and transparent style. Bhatt has this rare ability which is reflected in this book.