About the Book: Modern Banking in India
Since the early 1990s, the key objective of reforms in the banking sector in
India has been to enhance the stability and efficiency of banks. The enactment
of the Securitisation, Reconstruction of Financial Assets and Enforcement of
Security Interest (SARFAESI) Act, 2002 was an important landmark in the ongoing
reforms in the financial sector. The Act enables the setting up of asset
management companies, addressing the problem of non-performing assets of banks
and financial institutions, and enhancing creditor rights. Indias financial
sector, especially the banking sector, has been a major beneficiary from the
inroads made by information technology. However, technical characteristics