Abstract
The objective of this chapter is to provide a stocktake of the financial sector reforms initiated in India in 1992. The stocktake has been provided in the context of three elements that the financial sector of any country is comprised of: financial institutions, instruments and markets. Simultaneously, the chapter also looks at the reform of the regulatory authorities of the financial sector. The plan of this chapter is as follows. The next section, provides an overview of the Indian financial sector, section 10.3 outlines the circumstances that lead to the overhaul of the Indian financial sector, section 10.4 is a stocktake of reforms of financial institutions, section 10.5 provides an update on reforms in financial markets and instruments traded there in, section 10.6 outlines what remains to be done and section 10.7 concludes.
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