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Financial Sector and Economic Development


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Long-term sustainable economic growth depends on the two types of capital, i.e., physical capital and human capital. Financial sector in the country supports in this investment process by mobilizing saving through household and foreign saving.

Financial sector of a country consists of financial institutions, financial markets and financial instruments and services. Apart from this, FII are also supporting the country for this investment process.

Financial sector especially banking sector plays a crucial role in promoting economic development of a country. They play the role of financial intermediaries between savers and investors. Savings are done by large number of people or households, whereas investments is undertaken by a small number of people.

Since the nationalization of banks in 1969, the banking sector had been dominated by the public sector. The role of technology was minimal and the quality of service was not given importance. Banks also did not follow the proper risk management system. All these resulted in the low profitability. To improve the adverse situation, banking sector reforms were introduced since 1991.

Financial development involves the establishment of banking and NBFIs, productivity and profitability of this institution, expansion of banking network etc. The research articles in these books are Role of NABARD in agricultural and rural development of India, Role of financial institutions in agriculture sector, Role of financial sector in the economic development of India, Finance: The backbone of the Indian industry, Emergence of banking industry and its services in India, Contribution of finance sector in economic development of India, Performance of postal services in rural areas with special reference to in Thane district, Financial liberalization and foreign institutional investment flows in India: Experiences and policy issues, Non-Banking Financial Companies (NBFCs): An emerging sector in Indian financial sector and Role of MFIs in global scenario.


Contents –

1. Performance of Postal Services in Rural Areas with Special Reference to in Thane District – Mr. Rameshwar P. Rasal & Dr. Avinash B. Shendre
2. Financial Liberalization and Foreign Institutional Investment Flows in India: Experiences and Policy Issues – RekhaMahadeshwar
3. Role of Financial Institutions in Agriculture Sector – Prof. Dr. Asha Agnihotri
4. Non-Banking Financial Companies (NBFCs): An Emerging Sector in Indian Financial Sector – Mr. Ravindra Phadke
5. Role of NABARD in Agricultural and Rural Development of India – Mrs. Asawari A.Vaidya
6. Role of Financial Sector in the Economic Development of India – Ms. Avantika Kanade
7. Emergence of Banking Industry and its Services in India – Mrs. Madhavi Khot & Mrs. Shaikh Zeenath Rauf
8. Contribution of Finance Sector in Economic Development of India – Asst. Prof. VanitaMalik & Dr. Leela Bhaskar
9. Role ofMFIs in Global Scenario – Dr. K. G. Nimbalkar & Dr. (Mrs.) R.K. Nimbalkar
10. Finance: The Backbone of the Indian Industry – Dr. Sachchidanand R. Junghare
11. Vyapari Bankancha sheti Vittapurawatha – Prof. Dr. Madhukar Ramchandra Wedpathak
12. Sayamsahayyata Bachat Gat : Gramin Lokanchya Samjik-Aarthick Darja Sudharnyache Prabhavi Sadhan – Prof. Avinash Shendre & Ku. Rupali Suresh Dewlekar


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Dr. Avinash B. Shendre


Himalaya pub