Abstract
Early 1990s marked a watershed in the history of Indian and Swedish economies. Faced with a balance of payment crisis, both economies undertook extensive reform programmes which impacted almost all spheres including the financial sector. The ensuing rapid changes in almost all segments of the financial sector forced the two central banking systems to undergo changes. Thus, the central banks of these two countries transformed continuously, functionally and structurally in response to the changed polices. During the 15 years of economic reform, the RBI (Indian Central Bank) and the Riksbank (Swedish Central Bank) have emerged as respected and significant institutions in public policy. Their changing role as a central bank in response to the changing needs of the respective economy in general and monetary policy in particular is appreciated world over. They now play a crucial key role in the economies. This paper provides a comprehensive comparison of the Indian Central Banking System and the Swedish Central Banking System with some suggestions.
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