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

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Financial Sector Reform at Cost of Real Economy

EPW Research Foundation The announcement of the monetary and credit policy for the first half of 1997-98 has come against the background of a sharp deceleration of industrial growth and a severe setback to corporate performance. The situation called for innovations in the credit delivery system. But such innovation is likely to be hindered by the Reserve Bank's decision to remove reserve requirements on inter-bank liabilities, permit repo and reverse repo transactions in all dated government securities and expand call money lending by non-bank financial companies.

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