ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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High Cost of Financial Sector Reform

EPW Research Foundation High Cost of Financial Sector Reform The slow-down in industrial activity is now increasingly getting reflected in the portfolio behaviour of banks and financial institutions. Banks' initial reluctance to lend has been reinforced now by companies' unwillingness to borrow both because of the low level of industrial activity and the persistence of high inter erst rates. All aspects of financial sector liberalisation, however, preclude any significant lowering of interest rates by banks and financial institutions, even as company finance studies clearly show how mounting interest costs are having a severe impact on corporate results.

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