Thursday, August 07, 2008

The cost of the prevailing policy framework in finance

A recurring theme in the Mistry and Rajan reports is the lack of competition in Indian banking, and the deleterious consequences of capital controls through which it is attempted to cut off domestic finance from the rest of the world. Janmejaya Sinha has a ground level story in Financial Express which illustrates the incompetence and inefficiency of Indian finance.

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