Reforms In Banking Sector In India Pdf Free [TOP]
CLICK HERE ->->->-> https://urlgoal.com/2t2hlR
The post-crisis regulatory reforms were endorsed by the Group of Central Bank Governors and Heads of Supervision (GHOS), the Basel Committee's oversight body, on 7 December 2017. The adjustments to the market risk framework were endorsed by the GHOS on 14 January 2019. The revised standards will make banks more resilient and restore confidence in banking systems.
Moving from access to usage of accounts is the next step for countries where 80% or more of the population have accounts (China, Kenya, India, Thailand). These countries relied on reforms, private sector innovation, and a push to open low-cost accounts, including mobile and digitally-enabled payments.
The African Continental Free Trade Area (AfCFTA) agreement will create the largest free trade area in the world measured by the number of countries participating. The pact connects 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at US$3.4 trillion. It has the potential to lift 30 million people out of extreme poverty, but achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures.
Rising health spending increases stress on both private and public budgets, and thus stakeholders in both spheres are aiming to reduce costs. Cost-saving reforms in the private sector will inevitably reverberate in the public sector and vice versa. For example, the shift toward managed care in the private sector also resulted in more managed care in the public sector. Similarly, innovations in public insurance programs, such as the introduction of reimbursement by diagnosis-related groups in Medicare, changed the way private insurance payments were structured.15 Our health-care system is, de facto, a private-public partnership; as a result, governments should not view health-care costs narrowly as a budgetary issue. Rather, they should consider how the totality of government intervention in the health-care market--including tax policies, insurance regulation, and the structure of Medicare and Medicaid--affect the sector as a whole. The best way to reduce the fiscal burdens of health care is to deliver cost-effective health care throughout the entire system.
As a part of the growing trend towards globalization and economic liberalization, various banking reforms and acts have been introduced in India to upgrade the health and financial soundness of banks and to improve the operation efficiency so that Indian banks can meet globally accepted performance standards.
The Second Phase of the banking sector reforms concentrates on reinforcing the very foundation of the banking system by rehabilitating the structure of the banking industry, development of human resources, and technological enhancements.
In August 1991, the Reserve Bank of India (RBI) Governor established the Narasimham Committee to recommend changes to the financial system.[42] Recommendations included reducing the statutory liquidity ratio (SLR) and cash reserve ratio (CRR) from 38.5% and 15% respectively to 25% and 10% respectively, allowing market forces to dictate interest rates instead of the government, placing banks under the sole control of the RBI, and reducing the number of public sector banks.[43] The government heeded some of these suggestions, including cutting the SLR and CRR rates, liberalizing interest rates, loosening restrictions on private banks, and allowing banks to open branches free from government mandate.[44][37]
The liberalization of the economy made India more vulnerable to global market forces, such as fluctuations in commodity prices, exchange rates and global demand for exports. This increased the country's dependence on global market forces, as it became more susceptible to external shocks and economic crises.[87] A commonly cited example of this is the 2008 Financial Crisis; although the Indian banking sector had low exposure to US banking sector, the crisis still had a negative impact on the Indian economy due to lower global demand, decline in foreign investment and tightening of credit.[88]
Western policymakers can also play a role in encouraging and pressuring the Dubai government and the UAE to implement reforms, striking a balance between their anticorruption concerns and other strategic priorities. Potential actions could include U.S., UK, and European policymakers imposing travel and financial sanctions on facilitators of UAE-based crime and corruption. They could also focus more on soft power issues, such as the lack of human rights, democracy, and good governance in Dubai and the UAE overall, rather than concentrating almost solely on terrorism finance and anti-Iran activities. As part of this effort, security engagement and assistance can be conditioned on needed reforms. Further, given the lack of journalistic and civil society freedom in the UAE, Western governments could increase their support for external independent journalists, civil society groups, and anticorruption and human rights researchers reporting on Dubai.
Performance of healthcare stocks versus all stocks (emerging market sample). The MSCI Emerging Markets Index is a free float-adjusted market capitalisation index that is designed to measure the equity market performance of emerging markets. It represents about 13% of the world market capitalisation. As of November 2015, the MSCI Emerging Markets Index consists of 23 emerging market country indices: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, Indonesia, India, Korea, Morocco, Mexico, Malaysia, Peru, Philippines, Poland, Qatar, Russia, Thailand, Turkey, Taiwan, United Arab Emirates and South Africa. Important sectors within the MSCI EM/Healthcare Index are pharmaceuticals (70%), healthcare facilities (19%) and healthcare distributors (7%).
Prior to the initiation of economic reforms and trade liberalization nearly 40 years ago, China maintained policies that kept the economy very poor, stagnant, centrally controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free-market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging 9.5% through 2018, a pace described by the World Bank as "the fastest sustained expansion by a major economy in history." Such growth has enabled China, on average, to double its GDP every eight years and helped raise an estimated 800 million people out of poverty. China has become the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves. This in turn has made China a major commercial partner of the United States. China is the largest U.S. merchandise trading partner, biggest source of imports, and third-largest U.S. export market. China is also the largest foreign holder of U.S. Treasury securities, which help fund the federal debt and keep U.S. interest rates low.
The Chinese government views a growing economy as vital to maintaining social stability. However, China faces a number of major economic challenges that could dampen future growth, including distortive economic policies that have resulted in overreliance on fixed investment and exports for economic growth (rather than on consumer demand), government support for state-owned firms, a weak banking system, widening income gaps, growing pollution, and the relative lack of the rule of law in China. The Chinese government has acknowledged these problems and has pledged to address them by implementing policies to increase the role of the market in the economy, boost innovation, make consumer spending the driving force of the economy, expand social safety net coverage, encourage the development of less-polluting industries (such as services), and crack down on official government corruption. The ability of the Chinese government to implement such reforms will likely determine whether China can continue to maintain relatively rapid economic growth rates, or will instead begin to experience significantly lower growth rates.
In 1978, (shortly after the death of Chairman Mao in 1976), the Chinese government decided to break with its Soviet-style economic policies by gradually reforming the economy according to free market principles and opening up trade and investment with the West, in the hope that this would significantly increase economic growth and raise living standards. As Chinese leader Deng Xiaoping, the architect of China's economic reforms, put it: "Black cat, white cat, what does it matter what color the cat is as long as it catches mice?"8
Beginning in 1979, China launched several economic reforms. The central government initiated price and ownership incentives for farmers, which enabled them to sell a portion of their crops on the free market. In addition, the government established four special economic zones along the coast for the purpose of attracting foreign investment, boosting exports, and importing high technology products into China. Additional reforms, which followed in stages, sought to decentralize economic policymaking in several sectors, especially trade. Economic control of various enterprises was given to provincial and local governments, which were generally allowed to operate and compete on free market principles, rather than under the direction and guidance of state planning. In addition, citizens were encouraged to start their own businesses. Additional coastal regions and cities were designated as open cities and development zones, which allowed them to experiment with free-market reforms and to offer tax and trade incentives to attract foreign investment. In addition, state price controls on a wide range of products were gradually eliminated. Trade liberalization was also a major key to China's economic success. Removing trade barriers encouraged greater competition and attracted FDI inflows. China's gradual implementation of economic reforms sought to identify which policies produced favorable economic outcomes (and which did not) so that they could be implemented in other parts of the country, a process Deng Xiaoping reportedly referred to as "crossing the river by touching the stones."9 2b1af7f3a8
