Financial innovations have changed the whole structure and functioning of financial markets. The entire range of reforms aimed at promoting competition within a prudent regulatory regime is beginning to bear fruit. The financial position of the scheduled commercial banks has improved. The number of public sector banks declaring operating profits went up. The average ratio as to non-performing assets to the total advances for the public sector banks came down in case of numbers of banks. The response of foreign investment flows to the liberalization measures has been very encouraging over the last few years. The liberalization of the financial sector has also thrown up the need for several financial markets and services. One of the noteworthy events has been the emergence of a link between call money markets and foreign exchange markets, and inevitable consequence of the gradual development of these markets over the last few years. The process of reforms in the capital markets including the money markets were further strengthened. The Securities Laws Act empowered SEBI to regulate all market intermediates. An Ordinance to establish a system of depositories was promulgated addressing one of the major lacunae in the existing system. SEBI has introduced a number of new rules and regulations which will improve market practices. New financial services have been introduced by various financials institutions. This book on Globalisation and Financial Service Sector studies the developments in financial services, financial institutions and markets. The papers deal with structural facets as to financial institutions. This book on Globalisation and Financial Service Sector studies the developments in financial services, financial institutions and markets. The papers deal with structural facets as to financial institutions, services and markets. This volume will be of immense help to all those interested in the study of financial innovations taking place in global financial markets.
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