Tag Archives: discussion document

Takshashila Policy Research

Reforming the financial sector

Appointed by the Government of India in 2011, the Financial Sector Legislative Reforms Commission (FSLRC) submitted its report in March.
Had this Commission completed its work before 2008, it might have stood a better chance of being taken seriously for its assumptions were valid in a world dominated by finance and before the crisis seriously undermined them. The pro-cyclical nature of financial markets and credit creation necessitates tight regulation of the sector.