Banking Sector Reforms and Agricultural Crédit : An Overview

A strong and aggressive banking system is required for a globally competitive financial system. The current banking system is the result of previous reforms and policy changes. The period known as post-reform phase has been divided into three distinct chronological periods. The first one lasted from around 1991 up to 1998. Second phase of reforms began from year 1998 and lasted till the commencement of the global economic downturns held in year 2008. Another one phase is ongoing. This article focuses on India’s banking industry, which has attracted increasing interest since the economic reform program was implemented in 1991.