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

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Monetary Policy Scepticism

Commercial Banks and Monetary Policy in India by Partha Ray

F ew of the nancial systems in the world have been repeatedly subjected to as close a study and critical assessment as the Indian nancial system has been, both on individual initiative and at the ofcial levels. The corrective and proactive measures taken to calibrate the system in the light of the study ndings, in particular with reference to the banking sector, from time to time seem to have helped the country resist the contagion from the east Asian crisis of the mid-1990s and the recent nancial turmoil that emanated from the United States (US).

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