India's Financial System: Building the Foundation for Strong and Sustainable Growth

Economic developments in India have significant global and regional implications. The Indian financial sector plays a critical role in the country's development and has provided an important foundation for strong and sustainable economic growth over the past three decades. Chapter contributions discuss how to strengthen the financial system to support growth and reduce vulnerabilities by discussing the linkages between the financial sector and growth, improvements in bank lending to foster productivity, and measures to further develop India's corporate bond market. The book reflects on India's success in leveraging digitalization to foster financial inclusion and highlights how the financial system can help to address climate issues through the development of India's environmental, social, and governance financial market. This book digs deeper into the various facets of India's financial sector to understand its strengths and opportunities and to elicit policy actions that could help the financial sector better support India's growth potential.